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China to Tolerate More Bad Loans, Relax Credit Rules (Update3)

naked capitalism found this 1/12/2009 on bloomberg.com

Jan. 12 (Bloomberg) -- China will tolerate an increase in bad debt this year as it eases rules governing bank lending to revive the slowing economy, the nation’s banking regulator said. The China Banking Regulatory Commission will drop its target of reducing bad loans, and instead aim to ...