The reporter learned from a number of people familiar with the matter that small and medium-sized banks in some provinces recently received reminders requiring that the growth rate of financial investment should not be higher than the growth rate of loans, and that the term of new bonds should not be higher than the term of stock. Relevant people familiar with the matter said that there are differences in the strength and form of guidance from place to place. For example, a province in East China clearly requires small and medium-sized banks to reduce the term of bonds, adding new portfolios for a longer period of time than stocks, and also requires institutions to submit regular data reports; a western province emphasized that the growth rate of financial investment must not be higher than that of loans, indicating that it is not directly limiting the overall scale of debt allocations; the original intention should have been to hope that local banks increase credit investment in the local real economy. It is worth noting that this requirement was issued at the beginning of the fourth quarter, when small to medium bank bond holdings were low.

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