China regulator sets 2007 bank loan growth ceiling at 15 pct - report |
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Published
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Thu, 21 Jun 2007 03:37
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BEIJING (XFN-ASIA) - The China Banking Regulatory Commission (CBRC) has set a 2007 ceiling on bank loan growth at 15 pct, as part of a government effort to control inflation, the 21st Century Business Herald reported, citing sources.The commission announced the ceiling at a meeting with 25 domestic banks, at which Industrial Bank, Huaxia Bank and Huishang Bank were given warnings over the rate of their loan growth, the report said.According to the report, Industrial Bank and Huaxia Bank had loan growth of 29 pct and 16.9 pct at the end of March. No rate was given for Huishang.The restrictions on loan growth come amid fears of an overheating economy, with excess liquidity seen encouraging rapid growth in fixed asset investment. Regulators have also found that some bank loans have been diverted to speculative investment in the stock market and property.allen.shu@xfn.com
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