{"id":277676,"date":"2025-11-12T03:47:07","date_gmt":"2025-11-12T03:47:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/277676\/"},"modified":"2025-11-12T03:47:07","modified_gmt":"2025-11-12T03:47:07","slug":"china-banks-issue-phantom-loans-to-hit-targets-in-slow-economy","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/277676\/","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":277677,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[9437,45,49,48,65386,95,18185,5427,46,893,14211,126742,968,995,6549],"class_list":["post-277676","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-banking","tag-business","tag-ca","tag-canada","tag-cash-flow","tag-china","tag-china-renminbi-spot","tag-debt","tag-economy","tag-government","tag-industries","tag-jerry-hu","tag-real-estate","tag-regulation","tag-shanghai"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/277676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=277676"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/277676\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/277677"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=277676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=277676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=277676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}