Loan growth far exceed eight targets

Shusong, deputy director of the financial Department of the Development Research Center of the State Council, points out that banks around the world are now studying how overly loose monetary policy exits, that is, when and how to recycle liquidity.　　This is a long-standing problem for central banks.　　Ma, chief economist at Deutsche Bank in Greater China, said the bank's calculations have increased lending by more than 1 time times the rate of monetary expansion needed to "protect eight" of gross domestic product (GDP). According to the monetary growth rate, year-on-year GDP growth in the second quarter of this year is likely to have reached 18%, which is the all-time record since 1991, far exceeding the target of "Paul VIII".　　If loans and currencies continue to grow at this rate, it will lead to uncontrollable inflation, bad bank loans and asset bubbles. Ma believes that there are only two types of measures that can really effectively curb the surge in lending, one is a rapid slowdown in project approval and the second is the reopening of quarterly and monthly loan quotas. In the short run, it is not feasible for regulators to adopt these measures, but it would be too late to wait until 6 months later. (Beijing Morning Post)