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Syndicated loans gain favor amid slowdown

By Wang Xiaotian  (China Daily)

13:38, August 29, 2012

While China's economy continues to lose steam for the sixth quarter running, officials are starting to look at syndicated loans as a means of supporting large-scale construction projects to shore up the economy while fending off risk.

Syndicated loans refer to lending provided by a group of lenders which are arranged and administered by one or several banks, known as arrangers.

"At present the downside pressure on the economy is increasing. We need to support growth while checking financial risk, which requires better development of syndicated loan business," Du Jinfu, vice-chairman of the China Banking Regulatory Commission and a former deputy governor of the central bank, said at a conference.

The government has already started to clear the obstacles ahead of the more rapid growth of syndicated lending by exploring an information system for the online organization and registration of such loans, which would start in Jiangsu province in early September and be extended across the country in the fourth quarter.

Named "loanlink", the system is expected to realize the trade and transfer of such loans on a secondary market next year, to stimulate the development of the primary market, and help to set syndicated loans at reasonable prices.

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