atans1

S’poreans hanna do NS for China: Ho Ho Ho

In Banks, China, Temasek on 18/05/2015 at 2:05 pm

We (or rather Temask but then even Ho Ching has said Temasek’s money is our money, something Roy and his fellow cybernuts pretend she never said) have a big bet on Chinese banks.

And recently I reported some bad news: https://atans1.wordpress.com/2015/05/03/temaseks-china-banks-strong-headwinds-2/

More bad news:

Chinese policymakers have ordered banks to keep lending to local government projects under construction, in a sign of concern that a crackdown on shadow financing has reduced municipalities’ spending and is hurting the economy.

Financial institutions which signed legally binding contracts before the end of 2014 to loan to money to construction projects backed by local government financing vehicles (LGFVs) must not stop lending or reduce the loan size, a document posted on the State Council website Friday said.

“It is necessary to support the financing needs of LGFV projects under construction and ensure an orderly continuation,” the regulators said in the document.

“This will help meet reasonable funding demand of the real economy, as well as effectively prevent and resolve fiscal and financial risk.”

http://www.reuters.com/article/2015/05/15/us-china-debt-lgfv-idUSKBN0O00JM20150515

  1. The superiority of socialism! China orders banks to keep lending to insolvent state projects
    http://www.ft.com/intl/cms/s/0/3ec5fea4-faef-11e4-84f3-00144feab7de.html%23axzz3aGbhUICh

  2. No worries man! Golden Age for china soon to explode. Good explosion I mean. Go along for the ride!

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