Beijing has again warned against irresponsible lending by Chinese banks, as mainland markets prepare to reopen after a week-long lunar new year shutdown.
Investors are watching for signals about how Beijing plans to handle the risk of overheating and inflation as a result of the credit boom triggered by China’s stimulus package.
China’s banking regulators issued two directives on Saturday exhorting banks to manage risk more carefully and verify that loans are used for their intended purpose. “Lenders should extend loans according to the real demand of borrowers and must not set unreasonable loan quotas or scramble to extend loans,” according to a new rule from the China Banking Regulatory Commission on working capital loans.
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