Bank lending in China experienced a 22% drop in June, suggesting government efforts to tempt the runaway growth are taking effect, Xinhua news agency announced Tuesday. According to Xinhua, bank lending in June totaled 360 billion Yuan, down 102.7 billion Yuan from the same month in 2005. Planners worry that banks are in special danger because many are financing factories, luxury apartments and other projects that could turn out to be unneeded, leading to a wave of defaults, writes The Associated Press. The government has raised interest rates, ordered banks to screen borrowers more carefully and imposed curbs on construction of new steel mills, luxury villas and other projects.