China’s Central Bank Reaffirms Monetary, Lending Policies

From Bloomberg:

’s central bank reaffirmed plans to keep a “moderately loose” stance for 2010 and to restrict for industries with excess capacity, in its final statement for the year.

“Strict lending controls will be applied to energy- intensive and polluting industries, sectors with excess capacity and new investment projects,” the central bank said in a statement on its Web site.

The world’s third-biggest economy is set to meet the government’s 8 percent growth target for this year after lenders extended 9.2 trillion ($1.3 trillion) of in the first 11 months of this year. Besides driving the economic recovery, the extra money in the financial system has increased the risk of asset bubbles and resurgent .

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