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China again tells banks to control lending

BEIJING: Banks should control the pace of their lending and be aware of the risks entailed in extending credit to the property sector and to local governments, Chinese bank regulators said in remarks published on March 18.

The comments by Liu Mingkang, chairman of the China Banking Regulatory Commission, and his deputy, Jiang Dingzhi, were carried on the agency's website, www.cbrc.gov.cn.

Liu and other senior officials have repeatedly urged Chinese banks in recent weeks to cool the pace of their lending, strengthen risk management and make sure the loans they make are used for the intended purpose. -- Reuters
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