Chinese granting of loans surge this year
Posted on Feb-17-2009· by china investor
Chinese granting of loans surge this year
By the end of 2008, China’s export trade is slowing down, in order to stimulate economic development, China actively encourage the bank to extend a loan. a staff worked in the the Ministry of Finance of the state-owned commercial banks, told reporters, ” we put out 4,5 billion loan in only one and half month this year, have completed half of the amount of granting of loans this year.we are expected to complete all of the amount on March . “At the same time, the NPC Standing Committee is discussing the report on the arrangement of local government bonds issuance in 2009, these measures show that China is making use of quantitative economic tools to stimulate economic development. I think, at the same time, we must pay attention to return efficiency of the funds and ultimately the flow of funds, otherwise, if the global economic recession could not recover in the short term, imprudent behavior may lead to ineffective investment and bad debts of banks, so at present,it is essential is to require the economic stimulus plan audit.
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