China surging bank loans, trying to curb investment

14.06.2006 07:40

Figures released Wednesday by the central bank showed China's broadest measure of money supply, M2, jumped 19.1 percent by the end of May from a year earlier, exceeding economists forecasts and raising expectations the government may take further measures to tighten credit.

The data confirmed earlier reports in the state media that suggested a recent interest rate hike and other measures aimed at discouraging real estate speculation and other risky investments have not yet had much impact, the AP reports.

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