2011-10-13

Wenzhou asks central bank for 60 billion yuan loan

Assuming the rule of "never believe a rumor until it's been officially denied" is true in China as well.

利温州当局否认向央行求贷
温州银监局局长张有荣否认市政府为防民间借贷市场崩盘,向中国央行求贷600亿元(人民币,下同,121亿新元)。他直斥传言“子虚乌有”,并强调温州银行业务基础稳固,民间借贷问题不至于动摇整个金融体系。
Wenzhou officials deny seeking loans from the central bank
Wenzhou City Banking Secretary Zhang Yourong denied seeking a 600 billion renminbi loan from the central bank, in order to prevent the collapse of private lending market. He lashed out at "unfounded" rumors and stressed that the foundation of Wenzhou banking is stable and private lending problems will not shake the entire financial system.

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