According to various sources from several banks, the People's Bank of China, the central bank, aiming to keep the economy from overheating, has drawn up guidelines outlining next year's loan services following - "loan scope unchanged with the growth rate down". Accordingly, the loan growth rate will be kept under 12 percent in 2008, lower than the 15 percent in 2007.
Other sources also disclosed that it was quite likely that foreign banks would also have to follow the same guideline. Commercial banks that breach the guideline will be punished.
For more details, please read the full story in Chinese. (http://www.stockinfo.com.cn/paper%5Fnew/html/2007-12/27/content_60283504.htm)
(China.org.cn December 27, 2007)
