IN BRIEF (Page 13)

CDB cancelsbill issue

China Development Bank said on Thursday that it would cancel a planned bill issue of up to 15 billion yuan ($2.3 billion) that had been scheduled for Friday.

The bank did not elaborate, but an acute liquidity shortfall in China's money market has recently caused several issues to be less than fully sold at auction.

CBRC to tighten loan oversight

The China Banking Regulatory Commission (CBRC) said it will step up oversight of loans to local government financing vehicles and property-related credit in smaller cities during the second half of this year.

Banks should limit the risks of new loans to the financing vehicles through "strategic cooperation" with local governments, stronger management of land-backed lending and accurate risk weightings based on actual cash coverage of projects, the CBRC said on its website, citing a speech by Chairman Liu Mingkang on Wednesday.

Agencies

(China Daily 07/22/2011 page13)