Tuesday, February 21, 2012

China's unofficial lending falters, savers protest (AP)

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Pedestrian pass a partially torn advertisement leaflet of a private money lender displayed at an underground walkway in Beijing, China, Monday, Feb. 20, 2012. As China's growth cools and Beijing cracks down on informal credit, thousands of small lenders who sidestepped banks to provide loans to private companies are unpaid and angry. (AP Photo/Andy Wong)AP - Ms. Zhang, a schoolteacher in the central city of Anyang, lent $43,000 last year to entrepreneurs who couldn't get loans from state banks. Now as growth cools and Beijing cracks down on informal credit, Zhang and thousands of other small lenders are unpaid and angry.


Source: http://us.rd.yahoo.com/dailynews/rss/asia/*http%3A//news.yahoo.com/s/ap/20120220/ap_on_re_as/as_china_underground_lending

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