Wednesday, January 27, 2010

China News 1.27.10

China – China’s economy will grow in 2010 at a similar rate to the previous year, but it is starting to see signs or inflation forming, People’s Bank of China Deputy Governor Zhu Min told CNBC at the World Economic Forum Wednesday. “Inflation is not there yet, but expectations are forming,” Zhu China will keep current fiscal and monetary policy CNBC

· China loan growth - the official Securities Times said that Chinese regulators have ordered banks to call back some of the loans they extended in January, ratcheting up the pressure on banks to fall in line with the government's lending guidelines. Reuters

· China loan growth – China’s ICBC, the country’s largest bank, said on Wed it had stopped rolling over some loans in an effort to slow credit growth. The co issued a statement: "ICBC will not rush to lend, nor will it stop lending," the bank said. "In the first 20 days of January this year, due to concentrated capital demand from ongoing projects, the bank's credit offering was a bit fast but was still below that of the same period last year," "In the last 10 days of January, due to the expiry and return of a concentrated volume of existing loans and repayment of credit card debt, loan growth has eased, Reuters

· China – PBOC will sell 50 billion yuan of three-month bills tomorrow – Bloomberg

· China - Shares in Chinese automakers fall today after media report that China is considering levying a tax on vehicle emissions to curb pollution.

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