Turning to the Asian region, China’s economy grew close to, and in fact a little faster than, the government’s target last year. Strong and about equal contributions to growth were made by household consumption and investment. Consumer price inflation continues to be stable.
With regard to corporate finance, private banks appear to be more cautious in extending loans to firms with higher credit risks while they continue to be more active in extending loans to blue-chip companies. The lending attitudes of financial institutions as perceived by small firms are becoming more cautious.