Banks increase lending in July
By Feng Jianmin |
August 9, 2011, Tuesday
|
Print Edition
Print Edition
CHINA'S four biggest state-owned banks extended 205.6 billion yuan (US$31.9 billion) in new yuan loans in July, the China Securities Journal said yesterday, citing unidentified sources.
The amount lent last month was a rise of 7.4 billion yuan from June, the journal said.
The sources said banks in China may have lent between 560 billion yuan and 660 billion yuan in new yuan loans in July, the journal reported, with some banks said to have used up their July's lending quota within the first week.
A Reuters poll of 22 economists and analysts suggested Chinese banks may have eased their lending of new yuan loans to 550 billion yuan in July.
"The domestic economy still relies heavily on bank loans, (and) the growth of new loans will not be slower in the second half," said Xu Guoyu, an analyst with Huatai Securities.
Xu said the amount of loans in the first six months was well controlled amid tight monetary policies.
New yuan loans in the first half of the year totaled 4.17 billion yuan, nearly 450 billion yuan less than the same period last year, data released by the central bank showed.
Since October when the government unveiled tightening policies, the People's Bank of China set a ceiling for new yuan loans of 7.5 trillion yuan this year, a drop of 450 billion yuan from the actual loans granted last year.
"The banks are facing stricter management over capital adequacy, and they'll have to adjust the structure of their lending to remain profitable," Xu said.
The PBOC last week said that "it is not yet time" to ease monetary policies as it continues to tame inflation and property speculation.
The amount lent last month was a rise of 7.4 billion yuan from June, the journal said.
The sources said banks in China may have lent between 560 billion yuan and 660 billion yuan in new yuan loans in July, the journal reported, with some banks said to have used up their July's lending quota within the first week.
A Reuters poll of 22 economists and analysts suggested Chinese banks may have eased their lending of new yuan loans to 550 billion yuan in July.
"The domestic economy still relies heavily on bank loans, (and) the growth of new loans will not be slower in the second half," said Xu Guoyu, an analyst with Huatai Securities.
Xu said the amount of loans in the first six months was well controlled amid tight monetary policies.
New yuan loans in the first half of the year totaled 4.17 billion yuan, nearly 450 billion yuan less than the same period last year, data released by the central bank showed.
Since October when the government unveiled tightening policies, the People's Bank of China set a ceiling for new yuan loans of 7.5 trillion yuan this year, a drop of 450 billion yuan from the actual loans granted last year.
"The banks are facing stricter management over capital adequacy, and they'll have to adjust the structure of their lending to remain profitable," Xu said.
The PBOC last week said that "it is not yet time" to ease monetary policies as it continues to tame inflation and property speculation.
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