Business
        

Money

'Big Four' banks' new RMB loans soar

Updated: 2011-01-14 09:57

By Zhao Tingting (chinadaily.com.cn)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

China's four biggest State-owned commercial banks issued credit totaling 240 billion yuan in the first ten days of January, National Business Daily reported Friday, citing interbank data.

Related readings:
'Big Four' banks' new RMB loans soar RMB loans to rise by $1.1 trillion in 2010: Gov't report
'Big Four' banks' new RMB loans soar China's new yuan loan growth to slow in 2011: BoCom
'Big Four' banks' new RMB loans soar China banks slow lending due to quota limits
'Big Four' banks' new RMB loans soar China banks halt new credit to developers this year-Report

The four big banks—Bank of China, Agricultural Bank of China, China Construction Bank, and Industrial and Commercial Bank of China (ICBC)—issued credit of 160 billion yuan in December 2010, accounting for one third of the nation's whole new loan volume that month.

This credit blowout was anticipated, the report said. The central bank's effort to fulfill its credit target for last year placed a curb on December's credit demand, which was met this month when the central bank didn't unveil its loan target for this year.

Specials

President Hu visits the US

President Hu Jintao is on a state visit to the US from Jan 18 to 21.

Ancient life

The discovery of the fossile of a female pterosaur nicknamed as Mrs T and her un-laid egg are shedding new light on ancient mysteries.

Economic Figures

China's GDP growth jumped 10.3 percent year-on-year in 2010, boosted by a faster-than-expected 9.8 percent expansion in the fourth quarter.

2011 postgraduate entrance exam
Pet businesses
Critics call for fraud case to be reopened