greenlight sighted, page-9

Major

Have to agree with you and the latest is that the Chinese have only told the banks to "cool" lending. They have denied the freeze. The aim is to curb retail lending which is fuelling inflation and the local share market.

The chinese still need steel and to make that they need iron ore. Also, if you read the article link posted the major lending apparently happens at the beginning of the year and the recommendation to cool lending is with reards to ensure that loans outstanding at year end don’t exceed the levels on Oct. 31.

according to the WSJ article China Curbs Bank Loans To Cool Investment Fever

"A China Banking Regulatory Commission official in Shanghai confirmed that local and Chinese subsidiaries of foreign banks have been requested to ensure that loans outstanding at year end don’t exceed the levels on Oct. 31. The official described it as “guidance aimed at supporting the macrocontrol measures being implemented.”

Link:
http://www.bloomberg.com/apps/news?pid=email_en&refer=&sid=aXxs1Lap3vcU