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China to Slow Lending Amid Bubble Worries

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NO MORE LIFE IN THE FAST LOAN
"The Chinese authorities signaled Wednesday that bank lending would slow significantly this year and reportedly instructed some banks to curb loans — the latest in a series of moves designed to forestall inflation and stave off bubbles in the stock and property markets," according to the New York Times. "Liu Mingkang, chairman of the China Banking Regulatory Commission, said he expected the nation’s banks to extend loans totaling about 7.5 trillion renminbi, or $1.1 trillion — down nearly 22 percent from the record 9.6 trillion renminbi doled out last year."
SOURCE:   New York Times

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