banking - New lending policies mentioned

China's financial authorities are contemplating a new lending policy for their four commercial banks that will allow Shanghais citizens to lend up to 700,000 Renminbi (USD 85,000), writes the Shanghai-based Morning News. The plan, that is still very much under discussion, would not need many garantees but only a solid business plan. It would encourage the entrepreneurial sense very much, but might also amount to new non-performing loans.