Fearful of inflation and growing asset bubbles, Chinese authorities have ordered some of the country’s big banks to curb lending for the rest of January.

The move has raised concerns about slow economic growth in China, the world’s third largest economy.

It also hit bank stocks, with shares in both Bank of China and China Construction Bank falling 4 per cent on the news.

It has been a bumper period for bank lending in China since the government introduced a four-trillion yuan (€4 billion) stimulus plan to give the economy a boost.