Many economists have expressed concerns that the mainland's urbanisation initiative would provide a fresh incentive for local governments to get their financing arms to raise funds and invest heavily. Photo: Bloomberg

CBRC tightens grip on bank loans

Lenders told to limit credit to financing vehicles of local governments and prevent risk contagion after loans to the sector rise to 18pc of GDP

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Many economists have expressed concerns that the mainland's urbanisation initiative would provide a fresh incentive for local governments to get their financing arms to raise funds and invest heavily. Photo: Bloomberg
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