SHANGHAI: China’s central bank said it will not turn the screws too hard on banks in its drive to curb easy credit, seeking to allay fears of a banking crisis that had driven shares to their lowest in nearly 4½ years.
The People’s Bank of China (PBoC) wants to curtail the diversion of funds to a vast informal loan market as it seeks to shore up growth in the world’s second largest economy, but its tough stance has raised fears of a lasting credit crunch.
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