CBRC chairman: inflation beyond moderate level unlikely

13:40, March 10, 2010      

Email | Print | Subscribe | Comments | Forum 

Chairman Liu Mingkang of the China Banking Regulatory Commission (CBRC) recently held an exclusive interview with Xinhua news agency, talking about hot issues in the banking sector this year.

Q: 2009 is the most difficult year for China's economy in the new century, and 2010 is seen as the most complex and uncertain year, what initiatives are the CBRC considering in 2010?

A: In 2009, China's banking sector's performance was very good, new yuan loans amounted to 9.59 trillion yuan, almost 3 times the normal credit period, effectively pulling the economy towards stabilization. In 2010, China faces inflation expectations, and we have to cope with ample liquidity problems, while maintaining policy continuity and stability. Growth in bank loans will be between 16 percent and 18 percent this year, with new yuan loans of about 7.5 trillion yuan. CBRC's guidance on the banking sector will focus on continuity, stability, relevance and flexibility, especially the relevance and flexibility.

Q: what kind of policy measures will the CBRC take in 2010 regarding real estate financing?

A: For real estate developer loans, the CBRC requires commercial banks to pay attention to developer's qualifications and credibility. For the developer who violates a contract they will directly be blacklisted. Second, pay attention to real estate developers' mortgage. Third, strict control of the loan program, in addition to the capital funds, developers should have their own funds.
【1】 【2】

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
Major headlines
Editor's Pick
  • Can you do like she does?
  • Biden visits Yad Vashem Memorial
  • Biden tries to restrain, reassure Israel over Iran
  • Israel greenlights 1,600 new houses in Jerusalem
  • Iran successfully test-fires surface-to-surface missile
  • Austria considers Mongolia as important EU partner in Asia
Most Popular
Hot Forum Dicussion