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CBRC: Lending scale adjustments based on economic needs
By Hu Xiaocen |
May 31, 2012, Thursday
|
Online Edition
Online Edition
THE China Banking Regulatory Commission will adjust the lending scale based on economic changes, Vice Chairman Cai Esheng said at a forum in Tianjin today.
"Credit supply serves the purpose of supporting economic growth naturally," Cai said. "Lending growth should be advanced steadily. Adjusting the lending scale and the pace of adjustments depend on the needs of the real economy."
Premier Wen Jiabao said last week priority will be given to bolstering economic growth. The government recently accelerated the approval of a considerable number of infrastructure projects, and encouraged private investment to enter state-dominated industries such as railway construction, health care, security brokerages and banking.
"The China Banking Regulatory Commission will align its policy with the national industrial policy and the central bank's monetary policy, and make policy adjustments based on banks' operational behavior and risks," Cai added.
Bank of China told shareholders yesterday the lender hasn't been ordered to increase lending by the State Council, China's Cabinet, and it has no plan to ease its lending policy amid slumping credit demand.
"Credit supply serves the purpose of supporting economic growth naturally," Cai said. "Lending growth should be advanced steadily. Adjusting the lending scale and the pace of adjustments depend on the needs of the real economy."
Premier Wen Jiabao said last week priority will be given to bolstering economic growth. The government recently accelerated the approval of a considerable number of infrastructure projects, and encouraged private investment to enter state-dominated industries such as railway construction, health care, security brokerages and banking.
"The China Banking Regulatory Commission will align its policy with the national industrial policy and the central bank's monetary policy, and make policy adjustments based on banks' operational behavior and risks," Cai added.
Bank of China told shareholders yesterday the lender hasn't been ordered to increase lending by the State Council, China's Cabinet, and it has no plan to ease its lending policy amid slumping credit demand.
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