From AP via BusinessWeek:
China’s outstanding bank loans rose nearly 16 percent in May over a year earlier to 209.4 billion yuan ($26 billion), state media reported Friday.
The figures show efforts to curb an investment binge may not be working, said the Shanghai Securities News, a newspaper run by the government’s Xinhua News Agency.
New loans totaled 2.12 trillion yuan ($264 billion) in just the first five months of the year, closing in on the central bank’s annual target of 2.5 trillion yuan ($312 billion), the paper reported.[Full Text]