New loans to hit 700b yuan in July

Updated: 2012-07-30 18:00


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New loans are estimated to hit around 700 billion yuan ($109.9 billion) in July, according to an authoritative source,reported Economic Information Daily on Monday.

As the latest central bank data shows, as of the end of June, the outstanding loans designated to support fixed-assets investment amounted to 20.28 trillion yuan, an increase of 10.3 percent year-on-year and the growth rate was 0.4 percentage points higher than that at the end of the previous quarter.

Experts pointed out that the rebound in loans indicates that China's fixed asset investment will regain momentum.

China's banking loans have also shown a trend of accelerated growth since the second quarter. According to central bank data, China's new banking loans reached 919.8 billion yuan in June, an increase of over 280 billion yuan year-on-year. The new loans reached 4.86 trillion yuan in the first half, an increase of nearly 700 billion yuan compared with the same period last year.