China’s Banks Said to Resist Cutting Lending Rates – Bloomberg 10-11-12

Salient to Investors:

China’s biggest banks are resisting government pressure to lower borrowing costs amid an economic slowdown as they seek to maintain the profitability of their lending operations.

Banks are not authorized to speak publicly.

Rainy Yuan at Masterlink Securities said banks can no longer afford to ramp up lending recklessly, Yuan said the lack of consensus from the top on whether and how to fund local governments’ stimulus projects supports an L-shaped economic recovery.

Read the full article at http://www.bloomberg.com/news/2012-10-11/china-s-banks-said-to-resist-cutting-lending-rates.html