credit controls: Much of the blame for the slowdown was heaped on Beijing's credit controls, which had restricted lending and investment, especially in heavy industries, according to The Guardian. Beijing tightened controls on lending last year to rein in a debt boom. Growth in the three months to the end of September slipped to 6.5% from 6.7% in the previous quarter, official data showed, to mark the slowest rate of quarterly GDP growth since early 2009. That has weighed on housing sales and consumer spending. Credit controls and trade tensions were taking a bite out of economic momentum said Bill Adams, a senior economist at PNC Financial Services Group, in a report. Car buyers are steering clear of dealerships.
(news.financializer.com). As
reported in the news.
Tagged under credit controls, beijing topics.