Beijing’s biggest bank wanted ‘China rationale’ for mining loans

China’s biggest bank issued loss-making or marginal loans to Australia’s biggest resources and infrastructure companies as a way of starting long-term relationships that would help progress Beijing’s political goals. Almost 4.8 million leaked documents from inside the Industrial and Commercial Bank of China reveal that the delivery of Chinese President Xi Jinping’s policy goals was a high priority, with the bank using its lending power to advance Beijing’s interests both at home and abroad. Loading…