One result of China's macroeconomic adjustments is working capital loans are being squeezed slightly more than investment loans, the head of the central bank said this week.
People's Bank of China Governor Zhou Xiaochuan said China's macroeconomic policies have so far proven effective, but there are some issues still to be resolved, such as in lending.
Zhou, who was speaking at a finance conference, didn't comment on monetary policy.
Over the past year, China has instituted a raft of measures to help take some steam out of overheated sectors of the economy, which have been underpinned by runaway credit and fixed asset investment growth.
Among the measures, the PBOC raised banks' reserve requirement ratios and authorities ordered banks to limit lending to certain over-invested sectors, including property, automobile and building materials.
