Seizing on tightening measures

China's tightening macro controls are both an opportunity and a challenge for banks, said bankers yesterday.

"The recent measures taken by the central bank are in line with the economic situation that China faces now, and we think they make sense," said Ma Weihua, president of China Merchants Bank and a CPPCC member.

China will this year shift monetary policy from "prudent" to "tight", and many banks will have to rein in their loans, which will constrict the banking business. But it is also a chance for banks to adjust their development structure, said Ma.