China reiterates to keep tight grip on loan growth – AFX

From AFX via China Economic News:

The China Banking Regulatory Commission reiterated that it will seek to strictly control loan growth loan by commercial banks this year, according to the commission’s vice chairman.

In remarks carried on the commission’s website, Jiang Dingzhi warned banks to implement the government’s macro control measures effectively, adding that it will seek to confine loan growth to a reasonable level via window guidance.

New yuan loans totalled 2.18 trillion yuan in the six months to June. The government’s official target for 2006 is 2.50 trillion yuan. [Full Text]

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