China central bank struggles as borrowers hold off

China's central bank so far has failed to lift the world's second-largest economy out of its doldrums, and that is in part because of businesspeople like Li Jun. Li runs a fish-farming business in eastern China's Jiangsu province. The People's Bank of China is pushing the country's big, state-owned banks to lend more money to businesses like his. Instead of taking the cash. Li is cutting back. ‘Banks are willing to lend to me, but I'm borrowing less because I'm not expanding my business that much,’ said Mr. Li, chairman of Jiangsu Haihao Agriculture Development Co. ‘The market is not looking good, which makes me more cautious.’ The central bank this week is injecting 500 billion yuan ($81 billion) into China's five major state-owned banks, according to a senior banking executive briefed on the decision. The move--which is expected to channel money to areas the government deems important, such as public housing and small business--marks the latest of a series of targeted easing measures meant to arrest a slowdown in China's economic growth, according to marketwatch.com