China’s banking regulator will work to ensure “every cent” lent out by the nation’s financial institutions this year enters the real economy to help guard against inflation while maintaining growth, Chairman Liu Mingkang said.
This year “will be extremely complex and full of uncertainties,” Liu said in an interview with Xinhua news agency published late yesterday. [...]
With Chinese banks’ record new lending in 2009 igniting fears about asset bubbles and bad loan, the banking regulator’s latest rules aim to bring financial risk under control.
The new directives order banks to focus on loan quality control, rather than quantity restriction, and aim to make loans flow to the real economy — rather than [...]
Bank lending may exceed 1.3 trillion yuan in January despite the government-imposed credit clampdown on the potential risk of inflation and asset bubbles, analysts said.
“We see January net new lending at about 1.35 trillion yuan… the slower loan growth is mainly the result of early government action to control lending,” said Wang Tao, head of [...]
The University of Hong Kong on Monday projected a growth of 4 percent to 5 percent for Hong Kong’s economy in 2010, with a growth of 5.0 percent in the first quarter, but said it was no cause for celebration.
The real gross domestic product of Hong Kong, even with a growth of around 5 percent [...]
China’s Ministry of Commerce will make efforts to increase domestic consumption, and open new markets for foreign trade in 2010, said Chen Deming, the country’s commerce minister.
Chen made the remarks at a national commerce meeting held in Beijing Thursday, saying the government would continue to stimulate domestic demand, especially consumption, amid the slow and tough [...]
The global economy is expected to grow by 2 to 3 percent next year, according to the Yellow Book of Global Economy for 2010 released Thursday by the Chinese Academy of Social Sciences (CASS), China’s top think tank.
2009 will be the first year for the global economy to experience negative growth since the World War [...]
