How does this differ from non-Chinese banking systems? For example, in New Zealand banks can generate money for loans separately from the central bank; they don

How does this differ from non-Chinese banking systems? For example, in New Zealand banks can generate money for loans separately from the central bank; they don't borrow from the central bank. There are capital requirements which prevent them from creating infinite money but every time someone borrows money from a bank in NZ, the money is created from thin air.