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China's October new loans fall to 587.7 bln yuan

11-11-2010 10:50 BJT Special Report:China’s Economic Data for Oct. |

BEIJING, Nov.11 (Xinhua) -- China's new yuan-denominated lending in October dropped to 587.7 billion yuan (88.5 billion U.S. dollars) from 595.5 billion yuan in September, the People's Bank of China (PBOC), the central bank, said Thursday.

It was a big leap from the 253 billion yuan of new yuan loans in October of last year.

October's amount brought the combined new loans for the first 10 months to about 6.89 trillion yuan, compared with the 8.92 trillion yuan in the same period of last year.

China's banking regulator has taken measures to curb bank lending this year, targeting new yuan loans of 7.5 trillion yuan for the full year, down from last year's 9.6 trillion yuan.

Editor:Jin Lin |Source: Xinhua

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