"China Commercial Banking Report Q4 2012" Now Available at Fast Market Research
BMI View: China's State Council announced in late March that it would launch experimental financial reforms in the city of Wenzhou, where rampant underground lending practices resulted in a localised credit crunch in late 2011. We view the government's attempts to formalise these lending practices as a positive sign, which could help alleviate capital shortages for small and medium-sized enterprises. Deteriorating credit conditions economy-wide, however, continue to drive our bearish stance towards banking equities. In a recent statement, China's cabinet...
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