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China tells banks to 'significantly cut' lending rates for small businesses -sources

Reuters  |  BEIJING 

BEIJING (Reuters) - China's financial regulator has told banks to "significantly cut" lending rates for small firms in the third quarter in comparison with the first quarter, two people with direct knowledge of the matter told Reuters on Monday.The move comes amid a Chinese deleveraging campaign to crack down on financial risks and economic uncertainty triggered by a trade war with the United States that economists have cautioned could slow China's economic growth.The economy has already felt the pinch from the multi-year crackdown on riskier lending that has driven up corporate borrowing ...

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First Published: Mon, July 09 2018. 15:19 IST