Caixin
Sep 06, 2018 08:23 PM
FINANCE

Banks Reluctant to Obey Calls for More Credit

Industrial and Commercial Bank of China originally planned to reduce its new lending in 2018 to 900 billion yuan, however it now plans to increase it to 1 trillion yuan. Photo: VCG
Industrial and Commercial Bank of China originally planned to reduce its new lending in 2018 to 900 billion yuan, however it now plans to increase it to 1 trillion yuan. Photo: VCG

* Since the banking watchdog told banks in August to offer support “for the real economy,” China’s largest state-owned banks have moderately boosted their lending plans while other lenders have not budged

* Bankers worry that turning on the lending taps will increase their numbers of nonperforming loans, with one telling Caixin that they “really don’t dare to do this”

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