China to continue to restrict bank loans
China is reportedly to curb bank loans for state enterprises, but will make adequate capital available for key sectors of the economy to prevent credit crisis. The country will provide cash to industries that need further development while continuing to restrict rapid investments in certain overheated sectors. Fixed-asset investment, which is a basic measure of spending on major infrastructure projects leaded by the government and state enterprises, has fueled China's heated economic growth. China's economy grew by 9.1% from a year earlier in the third quarter, after a growth of 9.8% recorded in the first quarter and 9.6% in the second quarter. China's total new bank lending reached Yuan 1.8 trillion (approx. $217 billion) in the first ten months of the year, down by nearly Yuan 700 billion year-on-year.