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That trajectory could rely more on domestic demand than exports, more on consumption than investment spending, more on small and medium-size private companies than state-owned enterprises and more on creditworthiness than political connections to allocate loans from the state-owned banking system.
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The system of loans where the government provides the security is "excellent" in theory but in practice the banks who allocate the loans are too conservative, he says.
The central bank then sets quotas for each bank's lending and the banks allocate these loans to companies based on complex criteria that include their political connections and whether industries have received Beijing's blessing, Chinese bankers and bank analysts said.
In another example, a program that was intended to provide subsidised home loans to Indigenous people allocated 15 loans, worth a total of $2.7m, while accruing administration costs of $9.9m.
Even experts who strongly favor fundamental policy changes, like moving to a more market-oriented system for allocating bank loans and setting interest rates, doubt that China's leaders are preparing to move quickly.
If vacations and other discretionary purchases are important to you, you may want to minimize your monthly payment for the short term and can always readjust your loan terms when you have more monthly income to allocate to your student loans.
Unable to price loans and allocate capital properly, the country's banks have buried themselves under an avalanche of bad loans.
Canadian Imperial said earlier this year that it would cut capital allocated to corporate loans and merchant banking by one-third over the next three years.
The proportion of loans allocated to first-timers has remained steady throughout the crisis as parents have stumped up down-payments for their offspring.
In addition to its shareholder advocacy program, the committee has a social justice fund from which it allocates low-interest loans, in amounts up to $60,000, to organizations that fit with its mission.
The commission said China was "significantly subsidizing its coated fine-paper industry by giving cheap loans, allocating land below market value and granting various tax incentives," and announced duties of up to 12 percent on imports of high-quality paper used for magazines and brochures.
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