Financial institutions report more loans, deposits in 2003

Home>>Business

Last updated at: (Beijing Time) Thursday, January 15, 2004

Financial institutions report more loans, deposits in 2003

Financial institutions in China recorded strong growth in both combined loans and deposits in 2003, the central bank said Thursday.

DISCUSSION

CHINESE

SEND TO FRIEND

Financial institutions in China recorded strong growth in both combined loans and deposits in 2003, the central bank said Thursday.

The outstanding deposits in all financial institutions -- in both the Renminbi (RMB) and foreign currency -- jumped 20.2 percent on a yearly basis to 22 trillion yuan (2.65 trillion US dollars) by the end of December, the bank revealed in an annual report.

The figure included outstanding RMB deposits was 20.8 trillion yuan (2.51 trillion dollars), up 21.7 percent year on year. The increase was 2.8 percentage points more than that of 2002.

The outstanding RMB and foreign exchange loans grew 21.4 percent to 17 trillion yuan (2.05 trillion dollars) by the end of last month, including RMB loans amounting to 15.9 trillion yuan (1.92 trillion dollars).

The central bank said the majority of new loans were granted for agriculture, construction of basic facilities and individual consumers last year.

Questions?Comments? Click here

China's Financial Institutions Report Brisk Business

Exploration rover "Spirit" lands safely on Mars ( 9 Messages)

Two major state banks to pilot joint-stock system ( 3 Messages)

China pondering its own "green card" system ( 16 Messages)

Roaring BMW: Was it "road rage" or an accident? ( 2 Messages)

Beijing's traffic no longer a headache by year 2008 ( 5 Messages)