Chinese banks relucant to lend

by Tony Sagami on February 13, 2012

The biggest banks in China are partially owned and heavily controlled by the Chinese government.

That is why I was very interested to see the new that those state-controlled banks issued 738.1 billion yuan ($117.26 billion) in new loans in January, down 288.2 billion yuan or 28% from the same month last year.

The Chinese government is clearly trying to maintain a tight monetary policy.

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