China's bank loans may exceed 1.3 trillion yuan in Jan.
- Source: Global Times
- [13:54 February 09 2010]
- Comments
China's new bank lending is expected to exceed 1.3 trillion yuan ($190 billion) in January, according to Shanghai Securities News (SSN), citing unnamed commercial banking sources on February 9.
But it is much lower than the 1.62 trillion yuan ($240 billion) in the same period last year.
Loans surmounted 600 billion yuan ($87.88 billion) in the first week of January and the surge maintained in the second week. In the third week, banks tightened the rein in credit supply under the coordination of regulators. Some banks even halted loans.
An analyst noted that net new loans in February may drop dramatically compared with January to less than 1 trillion ($150 billion), due to lending control and fewer work days during the Spring Festival.
Both the central bank and regulators can supervise daily credit supply in commercial banks through a data exchange system and give prompt window guidance, an insider said at an interview with SSN.
The insider also said under the existing tightening policies, the lending crush among banks will sustain some time.
The central bank is due to release the loan data this week.
