Chinese bank lending surged last month and property prices rose at the fastest rate in nearly two years, underlining the risk of overheating in the economy even though consumer price inflation eased.
New bank loans reached Rmb1,390bn ($203bn, ￡130bn, €148bn) in January, more than the previous three months combined, after banks rushed to issue credit to clients in the first business days of the year, forcing the banking regulator to halt lending temporarily at some banks two weeks ago.
House prices in 70 cities rose by 9.5 per cent in the year to January, up from 7.8 per cent in December, although there is anecdotal evidence that housing sales dropped last month in some of the larger cities.
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