China central bank urges commercial banks to curb loans, follow guidance |
|
|
|
Published
:
Fri, 14 Sep 2007 09:28
|
BEIJING (XFN-ASIA) - China's central bank has fired a warning to the nation's commercial banks, urging them to curb loans, follow window guidance and not solely focus on their profits.'Commercial banks should cooperate with the central bank in its monetary tightening policies...not just pay attention to their profits,' said Wu Xiaoling, vice governor of the People's Bank of China.Figures released earlier this week revealed broad money supply was up 18.09 pct year-on-year at 38.72 trln yuan at the end of August.New yuan loans in August totaled 302.9 bln yuan, while outstanding loans grew by 16.96 pct to 27.1 trln yuan at the end of the month, the central bank said.bjburo@xfn.com-xfndj/xfnwd/xfnjanmCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
|
|
|
|
Print this Story
China 5 major banks H1 loans to small firms up 8.53 pct from start of 2007 