BEIJING — China’s hidden banking system is coming out of the shadows as the government seeks to rein in the excessive lending that it fears could spin out of control.
The People’s Bank of China, the central bank, let the world know on Monday that it was putting the nation’s banks on notice: the loose money and the speculation it fed had to stop. It said banks had to step up risk controls and improve cash management. And they had to do it, the bank said, by avoiding a “stampede” mentality.
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David Barboza, The New York Times via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/CRqHqchwsl0/
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