Financial Times FT.com

China’s banks lend with communist zeal

By Richard McGregor

Published: July 8 2009 18:25 | Last updated: July 8 2009 18:25

A prominent Chinese economist surveying business outside Beijing last month was taken aback when a provincial governor confided in him his greatest political achievement for the year.

It wasn’t anything that he had expected. The governor didn’t cite cleaner drinking water, a drop in the crime rate, or even the conventional benchmark for local leaders in China, speedier economic growth.

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