China's Henan province cuts loans to overcapacity sectors by $963 mln

August 23, 2016 9:03 AM

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BEIJING Aug 23 Banks in China's Henan province have reduced their lending to sectors suffering from overcapacity by 6.4 billion yuan ($963.71 million) so far this year, a bank regulator official said on Tuesday.

The regulator is encouraging banks to reduce the burden on firms in the province via restructuring of debt, Zhang Chun, deputy head of the Henan branch of China Banking Regulatory Commission (CBRC), said at a briefing in Beijing.

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