China bank lending slows as Beijing's curbs bite

The pace of Chinese bank lending slowed in March, marking an initial victory by Beijing in its campaign to stop the world's third-largest economy from bubbling over.

Net new lending slowed last month to 510.7 billion yuan ($75 billion), well below forecasts of a 750 billion yuan rise and February's total of 700.1 billion, the People's Bank of China said on Monday.

The central bank, working hand in glove with the banking regulator, has been pressing banks hard to be prudent in their lending.

Read Full Article from Washington Post

- Posted: 2010-04-12 10:36:23

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