China's new bank loans expected to reach 300-400 bln yuan in September

09:41, October 07, 2009      

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China's new yuan-dominated loans in September was expected to reach 300-400 billion yuan (44-59 billion U.S. dollars), China Securities Journal reported on its website Tuesday.

The figure was less than that of August, which hit 410.4 billion yuan.

Liu Mingkang, Chairman of the China Banking Regulatory Commission (CBRC), provided the figure during an International Monetary Fund (IMF) conference held in Istanbul, Turkey on Monday.

New loans in the first eight months stood at 8.15 trillion yuan, far exceeding the full-year target of five trillion yuan, according to he People's Bank of China, the central bank, this September.

The CBRC reiterated in September that domestic lenders should seek to enhance their risk management and stick to regulatory requirements to reduce worries over financial risks caused by rapid credit growth this year.

China began to adopt a moderately easy monetary policy in last November in a bid to maintain economic development amid the financial crisis.

Source: Xinhua
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