Wednesday, March 3, 2010

3 March 2010 China Daily News 3 March, Wednesday $$

•CBRC Chief: ensure credit control — China must find the right balance in lending to ensure steady economic growth while keeping inflationary pressures in check, Liu Mingkang, chairman of the China Banking Regulatory Commission, said in a report on “Qiu Shi”. The key to successfully balancing price rise pressures against keeping up economic growth lay in enforcing the government's policies to control and channel credit, Liu wrote. Among economic growth, credit policy and inflation, it is credit policy that is important to get a handle on. And large banks should keep their CAR above 11% while the small ones should keep it above 10%.

• Banks in Shenzhen punished for loans going into stock market — Shenzhen branches of seven banks have been punished by Shanghai branches of China Banking Regulatory Commission, because some personal loans made by the banks had gone into stock market.

China Daily News -

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