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China fears effect of credit surge

December 28, 2009 11:00 pm • Last Updated: December 29, 2009 4:35 am

A worker smashes brick walls while dismantling houses to make way for real estate projects Monday in Beijing. China's premier, Wen Jiabao, said Sunday that China's banks should lend less, reflecting concern that a credit surge this year to support Beijing's $586 billion stimulus might be driving dangerous overinvestment that could leave lenders with bad loans if unneeded projects fail.

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