ONA HIGHER PLANE

摘要

As the global crisis weakened other major economies, China's huge lending spree sent its growth soaring, but it must hope that in having made credit so loosely available it has not inadvertently planted the seeds of a future home-grown crisis.rnAfter an unprecedented bout of lending in 2009, during which some banks grew their loan books by as much as 50%, the leading Chinese banks are moderating growth rates to between 15% and 20% in 2010 and 2011.rnLast year's extraordinary activity was in response to the government's desire to stimulate the economy in the wake of the interna-tionalfinancial crisis. It involved considerable infrastructure finance, some for projects that were brought forward as a way of boosting economic activity and some for projects that had previously been on hold and were allowed to go ahead.