The China Banking Regulatory Commission (CBRC) issued a statement saying that bank loans to local governments do not pose a systemic financial risk. The CBRC argued that local government credit risk can be contained by existing measures designed to secure repayment. However, the organization also stressed that local governments should get their finances in order. [...]
China has raised mortgage down payments on second homes to 50% from the current 40% in a bid to rein in runaway price growth. The State Council made the announcement after the National Bureau of Statistics said March property prices soared 11.7%, the biggest year-on-year increase since the stats bureau expanded its coverage to 70 [...]
China Banking Regulatory Commission (CBRC) chairman Liu Mingkang said commercial lenders must reassess their risk exposure and submit reports by end-June. Inspectors will visit banks to check on the reports. “By the end of the third quarter we will downgrade assets if needed and increase provisions,” Liu said. The CBRC has repeatedly called for mainland [...]
The chairman of the China Banking Regulatory Commission (CBRC) said that the regulator would ensure that “every cent” of bank loans this year enters the real economy. Liu Mingkang echoed comments made by Wen Jiabao at the National People’s Congress, saying that the year ahead “will be extremely complex and full of uncertainties.” “Faced with [...]
China’s consumer prices rose 2.7% in February, up from a 1.5% increase in January. The producer price index rose 5.4% in February, up from a 4.3% in January. Higher food prices were largely responsible for the rise, although economists note that other consumer price index (CPI) components, such as transport and housing, are also increasing. [...]
China’s banking regulator has told commercial banks to be more prudent in their lending and consider borrowers’ actual demand in a move to further tighten liquidity and cool rising asset prices. The China Banking Regulatory Commission (CBRC) said in a statement that lenders must “be aware of factors that might influence the repaying capabilities of [...]
Industrial and Commercial Bank of China (ICBC) and China Citic Bank have ordered some of their branches to halt new loans for the rest of January. An official at Citic Bank said the move came after requests from bank headquarters and the People’s Bank of China to control the pace of lending. Liu Mingkang, chairman [...]
Beijing has ordered commercial banks to stop lending until the end of January. The China Securities Journal cited unidentified banking industry sources in both Beijing and Shanghai as saying that new loans amounting to more than US$146 billion have already been issued in 2010. The newspaper quoted an unnamed Bank of China official who said [...]
China’s central bank, the People’s Bank of China (PBoC), stated on Wednesday that it needed to support “relatively fast” economic growth in 2010, but that it would target “moderate” loan growth to manage inflation. Premier Wen Jiabao stated on December 27 that China should anticipate inflation from rising global commodities prices, but said price increases [...]
Liu Mingkang, chairman of the China Banking Regulatory Commission (CBRC), has encouraged lenders to make loans to consumers and small companies despite the risk of asset bubbles. China’s banks generated a record US$1.35 trillion in new loans from January to November 2009 as part of the national effort to counteract the global credit crisis, and [...]
