QROPS Advice: Investment News: Chinese banks have begun restricting new loans

Chinese banks have begun restricting new loans, responding to a push by regulators to contain credit after a surge in lending in the first half of this month. The China Banking Regulatory Commission last week said lenders that failed to meet any of more than a dozen regulatory requirements have been told to limit lending. The watchdog said not all banks have been asked to rein in credit. "Five major banks we have contacted today all suggested they received instruction from banking regulators last week to slow down new lending, but not stop new lending," HSBC Holdings Plc economist Hongbin Qu said.