China’s biggest banks lend 1.3tn yuan in attempt to halt stock market meltdown

China’s biggest banks have lent £134bn in an attempt to halt a meltdown in Chinese shares, local media have said. Financial magazine Caijing cited unnamed sources as saying that 17 commercial banks had provided the cash for the state-backed China Securities Finance, which loans money to investors for buying shares in a practice known as margin lending. Source The Guardian