October 16, 2013 / 9:16 AM / 4 years ago

China c.bank sees credit expansion pressure amid FX inflows

BEIJING, Oct 16 (Reuters) - China faces upward pressures on credit expansion due to rising capital inflows, the central bank said on Wednesday, after data showed upbeat bank lending growth in September.

Chinese banks made 787 billion yuan ($128.6 billion) worth of new yuan loans in September, higher than a forecast of 650 billion yuan and more than the previous month’s 711.3 billion yuan, central bank data showed on Monday.

The central bank will stick to its prudent policy with some fine-tuning and keep banking system liquidity at appropriate levels, it said in a statement on its website, www.pbc.gov.cn.

The People’s Bank of China also pleded to forge ahead with interest rate reforms in a step-by-step way.

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