Chinese Mandarin - State plans new moves against loans

BIZCHINA / Voice

State plans new moves against loans

(Shanghai Daily)
Updated: 2006-10-11 09:53

The state government will implement more measures to curb excessive
growth in investment and loans and will seek to tackle other countries'
widening trade deficit with China, said Ma Kai, the nation's top economic
planner.

Measures are needed to avoid accelerated economic growth that might lead
to overheating of the economy, Ma, head of China's National Development
and Reform Commission, said in a statement on the agency's Website.

China's economy grew 11.3 percent in the second quarter, the fastest pace
among the world's largest economies. The government is stepping up
efforts to cool a credit-fueled investment boom after higher interest
rates failed to slow growth in the second quarter.

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