People’s Bank to “guide” lending
The People's Bank of China, according to a statement posted on its website, will adhere to moderately loose monetary policy and continue to monitor bank lending, amidst fears that macroeconomic stability could still be undone by the ongoing boom in the stock market and continued high levels of economic growth.
Bank lending exploded over the first half of 2009 with some $1 trillion lent by banks, and there are forecasts that full year new lending could reach $1.6 trillion.
This surge in new money
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