Significant uncertainty erupted in Chinese banking circles this week as reports circulated globally that the China Banking Regulatory Commission had suspended all lending for three days. This would effectively create a lending moratorium for well over a week due to the upcoming May Day celebration. The story, which appeared in the Wall Street Journal and other media, was quickly denied. However, Western media, including Agence France-Presse, are citing specific examples of Chinese banking officials who claim to have seen the order. Officials at the China Merchants Bank said they received the order from the CBRC -- and that it was issued by the Chinese Cabinet....
