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China Has Lost Control Of Its Credit Supply

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BEIJING (XFN-ASIA) - China's central bank has called on banks to control lending growth, warning of the risks of excessive credit growth.
A statement on its website cited the central bank vice governor Wu Xiaoling as saying that banks should be keenly aware of the potential risks created by fast lending growth.
Banks should optimize lending structures, control the share of credit going to mid- and long-term loans, and avoid risks involved with bill financing, the central bank said.
The statement was posted after a meeting of People's Bank of China (PBOC) officials and domestic banks.
China's broad M2 money supply grew by 19.1 pct year-on-year, according to data released earlier today -- far faster than the government's full-year target of 16 pct for the indicator.
The pace of loans growth has also alarmed policy-makers, threatening to undermine the government's efforts in reforming the banks and installing more prudent lending policies.


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  • 302 Brexit, House prices and Summer 2020

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