As Consumer Credit Surges, Analysts Ask: Where’s the Spending Boom?
* Concerns mount that bank loans are being funneled into risky, speculative investments in property and online lending
* Postal Savings Bank executive said regulators are continuing to keep watch over the use of consumer credit and will order banks to call in loans if they find any wrongdoing
(Beijing) — China’s efforts to curb growth in corporate debt and rein in “shadow banking” have pushed the country’s banks to focus on boosting loans to individuals — the half-year earnings reports of listed lenders show consumer credit has been booming.
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