"Banks extended 772 billion yuan in new yuan loans in the month, much more than November's total of 476.9 billion yuan, offering further evidence that the central bank's efforts to stimulate credit in support of the government's economic pump-priming are having an effect."

I would want to know to whom and for what are these loans being extended before I would deem them to be having an affect on pumping the economy up. However, I might trust the Chinese more than the US to make sure they are taking care of the country and not their buddies as in the US handouts. After all, they execute people for screwing up, not that I endorse it, but it does speak to the fact that they can be a very "serious" people.