This is ridiculous, of course:
China to keep credit growth steady: Central bank
July 14 (Reuters) — China’s central bank pledged on Sunday to use a mix of policy tools to adjust banking liquidity to ensure steady credit growth, in an apparent bid to soothe market concerns about tighter monetary conditions.
The central bank will “use a mix of price and quantitative policy tools to adjust liquidity in the banking system and guide steady and appropriate growth in money, credit and social financing”, it said in a statement on its website.
The central bank allowed short-term inter-bank borrowing costs to spike to close to 30 percent on June 20, a blunt warning to overstretched lenders that they must bring risky lending under control.