China Big Four Banks Issued Around CNY50 Billion New Yuan Loans 1st Half July
China Big Four Banks Issued Around CNY50 Billion New Yuan Loans 1st Half July -Report
Published July 18, 2012 Dow Jones Newswires
China's biggest four banks issued around CNY50 billion (US$7.9 billion) in new yuan loans in the first half of July, double that of the same period of last month, the state-run Shanghai Securities News reported Thursday, citing unnamed sources. The increase was due partly to banks starting to extend loans for some projects that are aimed at revitalizing economic growth, the report said, without giving more details. The four banks--Industrial & Commercial Bank of China Ltd. (601398.SH), China Construction Bank Corp. (601939.SH), Bank of China Ltd. (601988.SH) and Agricultural Bank of China Ltd. (601288.SH)--usually account for 30% of new yuan loans issued by China's whole banking system. New yuan loans issued by China's whole banking system are expected to be around CNY650 billion in July, the report said, citing the estimate of an unnamed institution. Chinese financial institutions extended CNY919.8 billion in new yuan loans in June, up from CNY793.2 billion in May, in another sign of easing liquidity as policy makers try to boost economic growth.