New yuan loans rise sharply
By Lilith Hu |
February 6, 2013, Wednesday
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Print Edition
Print Edition
THE amount of new yuan loans extended in China in January may have totaled 1 trillion yuan (US$160.6 billion) amid rising demand for credit from companies as the economy stabilized, according to a poll.
A Reuters poll forecast that new lending last month increased sharply from December's 454.3 billion yuan and November's 522.9 billion yuan.
China has set a target of 8.5 trillion yuan in new lending this year, a slight increase from 8.2 trillion yuan in 2012.
The country's big four banks - the Industrial and Commercial Bank of China, China Construction Bank, the Agricultural Bank of China and the Bank of China - have received a combined quota of 3 trillion yuan from the People's Bank of China this year, according to a China Securities Journal report last month.
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