{"id":258036,"date":"2025-11-12T04:19:07","date_gmt":"2025-11-12T04:19:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/258036\/"},"modified":"2025-11-12T04:19:07","modified_gmt":"2025-11-12T04:19:07","slug":"china-banks-issue-phantom-loans-to-hit-targets-in-slow-economy","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/258036\/","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":258037,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[1340,84,53941,891,13790,460,1294,80,2346,106971,4655,306,5752,56,54,55],"class_list":["post-258036","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-banking","tag-business","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","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/258036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=258036"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/258036\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/258037"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=258036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=258036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=258036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}