China’s economy grew 8.7% last year, beating the government’s 8% target, while 4Q2009 GDP rose 10.7%, the fastest growth rate in two years. The country’s central bank has raised the interest rate on its treasury bills to curb lending. Reports also say that some banks have been told to rein in lending because they failed to meet regulatory requirements while others have been asked to halt lending for the rest of January. The government is also expected to hike bank reserve ratios, for the second time this month, by another 50 basis points, before the Lunar New Year.