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    China Business
     Feb 18, '14


China's lending curbs lift shadow economy
By Michael Lelyveld

The accuracy of China's economic estimates faces growing doubts as the government tries to cut industrial overcapacity, recent reports suggest. The government's crackdown on excess and outmoded production has added new uncertainty to economic growth data as more business is forced off the official books.



Government-imposed lending limits on state-owned banks have been pushing targeted industries to rely increasingly on unregulated shadow banking, according to The Wall Street Journal and The New York Times.

Shadow banking loans, which also back local government debt, soared 43% last year to over 5.1 trillion yuan (US$851.7 billion), the Journal reported, citing estimates from the People's Bank of China (BLOC). More ...

Reprinted with the permission of Radio Free Asia. For original article, see here

Copyright (c) 2014, Radio Free Asia.





 

 

 
 



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