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The Boston Globe

Business

Chinese regulators vow banks won’t grow recklessly

Boom in lending stirs debt worries

BEIJING — China’s top banking regulators and the chairmen of the four largest banks tried to allay concerns on Sunday that the country was allowing its banking system to grow at a reckless pace as a way to sustain short-term economic growth.

The regulators and chairmen said during a rare joint news conference that they were managing the industry prudently and that effective measures had been taken to limit risk, even as lending expands briskly.

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