Chinese premier urges reluctant banks to support real economy
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Beijing
CHINESE Premier Li Keqiang on Friday urged banks to do more to support the real economy, as the authorities grow frustrated with commercial banks' reluctance to lend for productive investment, even as their funds support a debt-fuelled stock market rally.
Three sources with direct knowledge of the matter said that Mr Li, on a visit to the Industrial and Commercial Bank of China Ltd (ICBC) and China Development Bank (CDB), major state-owned banks, called for banks to lend more to small and medium-sized enterprises (SMEs).
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