China's new yuan loan growth to slow in 2011: bank report

08:31, January 12, 2011      

Email | Print | Subscribe | Comments | Forum 

China's bank lending growth is expected to continue decelerating in 2011, as the government continues to tighten monetary policy, notably in mortgages, a bank report said on Tuesday.

However, the total amount will remain large, as the demand for credit in the real economy remains voracious, according to a report released by the Shanghai-based Bank of Communications (BOC).

Further, the report predicted that new yuan loans for this year would stand between 7 trillion yuan (1.06 trillion U.S. dollars) and 7.5 trillion yuan.

Also, growth of outstanding Renminbi loans will stand between 14.5 percent and 16 percent, compared with a 19.9 percent increase in 2010.

Chinese banks lent 7.95 trillion yuan last year, according to figures released by the central bank Tuesday. Although the data was 1.65 trillion yuan less than the 2009 level of 9.6 trillion yuan, it still was beyond the government-set full-year ceiling of 7.5 trillion yuan.

Source: Xinhua
  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Focus On China
  • Shanghai World Expo 2010
Major headlines
Editor's Pick
  • Dakar Rally race across Argentina and Chile
  • Beckham starts Tottenham Hotspur's training in Essex
  • Advanced sleeper multi-unit trains open in southwest China for the first time
  • Sun comes out in S. China after ten-day icy-rain disaster
  • Sea gulls' paradise in E. China's Jiangsu
  • Hainan audience enjoys feast of cross talks by Guo Degang
Hot Forum Dicussion