Given this rise in the proportion of lending going to the property sector, it is perhaps not surprising that many banks now feel they are overweight to that sector and are reluctant to make new loans, while some are seeking to cut back.
Are there any particular obstacles to overcome? Could it be that the diversity is actually working against reform? No, no, that is definitely not the case. It is simply that we have to continue to reform all our markets – the goods, services, labour and financial markets – to make them more flexible.