Chinese shares opened slightly lower on Friday over the top banking regulator's warning against credit risks.

Chinese shares open slightly lower on credit risk warning [CFP]

The benchmark Shanghai Composite Index was down 0.38 percent to 2,524.63. The Shenzhen Component Index was 0.32 percent lower to 9,679.97 at the opening.

The country's top banking regulator Thursday urged lenders to prevent the risk of bad loans when increasing credit support for the slowing economy.

In March alone, new loans issued in Chinese currency reached 1.89 trillion yuan (US$276 billion), the third straight month that new loans exceeded 1 trillion yuan and a surge of 1.61 trillion yuan from last March, central bank data show.

(Xinhua News Agency April 17, 2009)