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More bankers say macro economy overheated
www.chinanews.cn 2006-06-18 16:27:44
(Source: Xinhua)
June 18 - Latest survey by China's central bank shows that 42.6 percent
of bankers in the country believe that the macro economy is overheated,
and 26.6 percent think the situation will continue.
The People's Bank of China and the National Bureau of Statistics
quarterly send questionnaires to principals of all kinds of banks
including foreign-funded ones, asking them about impression upon the
current economic situation.
Some 42.6 percent of bankers think the macro economy is overheated in the
second quarter of this year, and 26.6 percent predict such situation will
continue in the next quarter, which is the maximum ratio in history.
China's economy is facing heightened overheating signs, as outstanding
bank loans surged 15.97 percent year on year by the end of May amid a
seemingly unabated investment binge.
So as to cool down the overheated economy, the People's Bank of China in
April raised the minimum rate commercial banks charge on one-year loans
in local currency, the yuan, 27 basis points, to 5.85 percent in an
aggressive move to discourage lending. It was the first increase since
October 2004.
The survey, however, shows that 18.5 percent of bankers still think the
current monetary policy is too mild and further tightened policy may come
out in the next quarter. This is also the maximum ratio in history.
��China to put brakes on overheated industries
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