After an unprecedented bout of lending in 2009, during which some banks grew their loan books by as much as 50%, the leading Chinese banks are moderating growth rates to between 15% and 20% in 2010 and 2011.
Last year's extraordinary activity was in response to the government's desire to stimulate the economy in the wake of the international financial crisis. It involved considerable infrastructure finance, some for projects that were brought forward as a way of boosting economic activity and some for projects that had previously been on hold and were allowed to go ahead.
