China banks push into Australia by financing investments
Reserve Bank of Australia warns that rapid expansion by foreign lenders is a potential systemic threat
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Sydney
CHINA'S banks are muscling into Australia by financing fast-growing Chinese property and corporate investments Down Under, invoking a warning from the Australian regulator that rapid expansion by foreign lenders is a potential systemic threat.
Total loans by Chinese banks that operate in Australia grew by more than 36 per cent in the year to end-February compared with a 9 per cent growth in loans overall, according to the latest Australian government data.
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