{"id":279089,"date":"2025-11-12T04:20:08","date_gmt":"2025-11-12T04:20:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/279089\/"},"modified":"2025-11-12T04:20:08","modified_gmt":"2025-11-12T04:20:08","slug":"china-banks-issue-phantom-loans-to-hit-targets-in-slow-economy","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/279089\/","title":{"rendered":"China Banks Issue Phantom Loans to Hit Targets in Slow Economy"},"content":{"rendered":"<p class=\"ArticleBodyText_articleBodyContent__17wqE typography_articleBody__3UcBa\" data-component=\"paragraph\">Jerry Hu, who owns an auto-parts firm in eastern China, was approached in October with a strange request. A loan officer from one of the country\u2019s biggest banks asked him to borrow 5 million yuan ($700,000), deposit the money and repay it next month. The bank even agreed to cover the interest.<\/p>\n<p class=\"ArticleBodyText_articleBodyContent__17wqE typography_articleBody__3UcBa\" data-component=\"paragraph\">\u201cTheir managers kept calling me,\u201d said Hu, whose firm in Zhejiang province near Shanghai is a valued client because of its steady cash flow and solid profits. \u201cI didn\u2019t really need a loan, but I still agreed to help.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Jerry Hu, who owns an auto-parts firm in eastern China, was approached in October with a strange request.&hellip;\n","protected":false},"author":2,"featured_media":279090,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,8878,99,18459,512,26287,13110,164,3786,18461,161760,1003,16570,4933],"class_list":{"0":"post-279089","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-au","9":"tag-australia","10":"tag-banking","11":"tag-business","12":"tag-cash-flow","13":"tag-china","14":"tag-china-renminbi-spot","15":"tag-debt","16":"tag-economy","17":"tag-government","18":"tag-industries","19":"tag-jerry-hu","20":"tag-real-estate","21":"tag-regulation","22":"tag-shanghai"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/279089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=279089"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/279089\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/279090"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=279089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=279089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=279089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}