China Financial Daily

Market panic conscious policy towards the second half of the banks to tighten credit
July 29, Shanghai and Shenzhen stock markets plummeted, SSE Composite Index fell 171 points, while the panic caused by the decrease in the market worried about rumors is one of the central bank raised the deposit reserve ratio.

That evening the emergency central bank on its Web site, “denial”: is determined to continue the implementation of appropriate monetary policy, while the use of market-oriented means, rather than the size of control and guide an appropriate growth of monetary credit.

The central bank’s position in due course a little to ease market tension. However, despite the tone of monetary policy is not changed, but experienced a credit boom during the first half, most commercial banks to complete the beginning of the year’s credit plan, the rhythm of the second half to tighten credit.

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