Free-range banks

摘要

China's banks are like battery hens. Force-fed with deposits, they are expected to lay trillions of yuan of new loans each quarter, especially when the economy needs a boost. Last month, for example, they dutifully lent over 793 billion yuan ($125 billion), an increase of over 20% at a seasonally-adjusted annual rate, according to Yu Song of Goldman Sachs. This credit push will help to revive the economy after its spring slowdown.