Cheap WoW Goldgrowth of China's currency and bank lending slowed sharply in February as the monetary policy tightening will continue and the government made progress in its campaign to counter inflation.
Chinese banks made 535 600 000 000 yuan (82 billion) in new loans in February, below market forecasts of 650 million yuan, the central bank said Monday.
The overall measure of money supply M2 rose by 15.7 percent from one year to another, shy and an expected increase 17.0 percent.
Excessive liquidity in the economy is one of the causes of inflation in China, which has been used near its highest in more than two years, so that the slowdown in credit growth and money could reduce the need for aggressive policy tightening by the authorities.
Economists say Beijing may still raise bank reserve requirements and interest rates in the near future, and keep a firm grip on lending levels throughout the year. But Monday's data showed that the sequence of moves set in the past six months has seen a resurgence.
"The data show that measures of political work in China," Ren said Xianfang, economist at IHS Global Insight in Beijing.
"The central bank to be cautious in its next step, not to tighten monetary policy as it has learned from his political mistakes of 2008, he added, referring to aggressive tightening, which then contributed to tip the economy into a sharp slowdown.
"Significant slowdown"
It was the second consecutive month, bank lending has fallen short of market expectations. Chinese banks issued about a quarter less than the new loans in the first two months of this year than the same period last year.Cheap WoW Gold
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