Sub-prime, China style
Chinese banking: The search for fees
China Life toughs out volatile markets
Zhu Min, Bank of China: What Chinas banks have learned from the crisis
LEVERAGE IS BACK at least in China. In just the first two months of the year, Chinas banks advanced a mind-boggling Rmb2.7 trillion ($390 billion) of new loans. That amounts to more than 10% of Chinas GDP.
The banks arent finished yet. Prime minister Wen Jiabao has set a new loan growth target of Rmb5 trillion for 2009 to support his governments Rmb4 trillion economic stimulus package, which was announced last November. Its enough to make the wests leaders cast an envious eye towards Beijing as they struggle to encourage their banks to increase new loans.
The lending spree in China, however, has reignited concerns about an issue that has...
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