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Last week's cut in the required.........>

CHINA PRESS
CHINA PRESS: Last week's cut in the required reserve-deposit rate by the
People's Bank of China was a response to sluggish credit and lending provision
by joint-stock commercial banks, according to a report in the Economic
Information Daily. Citing Wang Yifeng, the chief banking analyst with Everbright
Securities, the Daily reported that some joint-stock commercial banks downsized
their balance sheets last month and are facing pressure from decreasing interest
rate spreads with higher costs of liabilities. This hinders them from lowering
loan interest rates, according to Wang. 

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