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Chinese Regulators Urge Banks to Lend for Economic Growth

The China Banking Regulatory Commission (CBRC) on Sunday urged banks to "take effective measures to ensure loans for the country's economic growth and meanwhile prevent risks, in a bid to maintain sound and fast economic development."

The policy is "guaranteeing money supply to some sectors while controlling money supply to some other sectors", said a spokesman for the commission.

The spokesman said that commercial banks have increased lending since the end of June, especially to small firms, energy-saving projects and those concerning agriculture, farmers and rural areas.

The spokesman said the commission has urged commercial banks to increase lending to post-disaster reconstruction.

(Xinhua News Agency September 7, 2008)

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