PBOC's Zhou says China won't loosen loan controls

The People's Bank of China will not loosen control over loan extension despite complaints from local businesses about cash flow problems, according to Governor Zhou Xiaochuan of the People's Bank of China.

"We will not slacken restrictions on loan extension, though commercial banks have reported a slightly smaller number of non-performing loans," Zhou said at the China International Conference in Finance 2004 held in the eastern commercial area of Shanghai.

The three-day meeting is sponsored by