China Construction Bank Corp. said excess cash in the banking system has led to asset bubbles, underscoring concern that the nation’s lenders will rein in credit after the Shanghai Composite Index’s 64 percent rally.
“There are uncertainties in the economy and bubbles in the capital market,” Guo Shuqing, chairman of the nation’s second- largest bank, told reporters in Beijing yesterday. “China’s banking system still has excessive liquidity.
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