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Skip Navigation LinksHome :: Markets/asset classes :: Asia :: China increases lending quota for foreign banks.

Monday, August 11, 2008

China increases lending quota for foreign banks.





China increases lending quota for foreign banks. The Business Times reported that according to the Shanghai Securities News, China has raised the lending quotas for locally incorporated foreign banks. The foreign banks have been asked to increase lending to small and medium-sized enterprises, the agricultural sector and firms engaged in reconstruction work. The move is intended to stimulate China's economic growth. The report did not mention the quantum of increase for the lending quota. China's economy expanded by 11.9% in 2007 and by 10.4% in H1/2008.







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