Banks lend less
By Zhu Shenshen |
January 13, 2011, Thursday
|
Print Edition
Print Edition
BANKS in Shanghai extended 436.9 billion yuan (US$67.9 billion) in new yuan-denominated loans in 2010, a drop of 44.6 billion yuan from the previous year, the central bank said yesterday.
The decline in new yuan loans was a result of China's tightened monetary policy targeting a 25-month high of inflation and overseas capital inflows.
Banks in Shanghai extended mortgage loans of 54.38 billion yuan last year, with only 3.49 billion yuan in the second half, because of the country's curb on the real estate market, according to a statement by the Shanghai headquarters of the People's Bank of China.
The decline in new yuan loans was a result of China's tightened monetary policy targeting a 25-month high of inflation and overseas capital inflows.
Banks in Shanghai extended mortgage loans of 54.38 billion yuan last year, with only 3.49 billion yuan in the second half, because of the country's curb on the real estate market, according to a statement by the Shanghai headquarters of the People's Bank of China.
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