Chinese banks increase lending while U.S. peers pull back

According to a story filed Monday with American Banking News, China’s banks are stepping up their lending around the globe while their counterparts in the United States continue to curtail commercial lending.

Chinese banks increased lending by 22 percent during the first 10 months of 2009 to $5.8 trillion in outstanding loans. During the same time period, American banks cut outstanding loans by 8 percent to $6.7 trillion.

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