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Banks were unable to make profits from loaning to safe customers at low interest rates, so they made housing and consumer loans to people with bad credit at very high interest rates. Eventually, this boom led to the housing market collapse and the global financial crisis of 2008.
Bayer's links with China go back a long way: The business established a presence in the country in 1882. As a leading global company in the fields of healthcare and agriculture, its classic medicine - aspirin - has a history going back 120 years.
Banks are urged to take greater responsibility for account management and step up sharing of information with government departments to step up compliance oversight, the statement said.
Based in the Hefei State High-tech Industrial Development Zone, the project will see an investment of 1 billion yuan (8 million) and cover an area of about 4.5 hectares. Construction of the project is expected to be finished by September, according to the development zone's administrators.
Banking regulators are encouraging commercial lenders to help develop emerging industries, overhaul credit structures and look for new growth opportunities.
来源：资阳报