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China banks issue fewer loans in Dec despite surprise rate cut

Firms seeking funds are further driven into shadow banking system
Friday, January 16, 2015 - 05:50

Beijing

CAUTIOUS Chinese banks issued far less credit in December than expected despite a surprise rate cut by the central bank, driving cash-starved companies into the shadow banking system in a major blow to the government's financial reform efforts.

The weaker-than-expected loan

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