Chinese lending fears hit bank shares

January 20, 2010 Share Print 0

[mserve id=”Central_Bank_PBOC.jpeg” align=”left” width=”250″ caption=”People’s Bank of China ” alt=”Peoples Bank of China PBOC Central” title=”People’s Bank of China”]

Chinese banking shares have fallen on reports of bank lending restrictions.
State media said Chinese authorities had instructed some banks to stop lending for the rest of January, amid fears about the risk of inflation.
The move has raised concerns about slow economic growth in China. Shares in both Bank of China and China Construction Bank fell 4%.
Last week, China’s central bank raised bank reserve requirements for the first time since June 2008.

source: BBC

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.