{"id":130663,"date":"2025-11-12T03:54:07","date_gmt":"2025-11-12T03:54:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/130663\/"},"modified":"2025-11-12T03:54:07","modified_gmt":"2025-11-12T03:54:07","slug":"china-banks-issue-phantom-loans-to-hit-targets-in-slow-economy","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/130663\/","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":130664,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[916,138,1289,607,645,5399,219,266,648,90128,111,139,69,13081,640,3747],"class_list":{"0":"post-130663","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-banking","9":"tag-business","10":"tag-cash-flow","11":"tag-china","12":"tag-china-renminbi-spot","13":"tag-debt","14":"tag-economy","15":"tag-government","16":"tag-industries","17":"tag-jerry-hu","18":"tag-new-zealand","19":"tag-newzealand","20":"tag-nz","21":"tag-real-estate","22":"tag-regulation","23":"tag-shanghai"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/130663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=130663"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/130663\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/130664"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=130663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=130663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=130663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}