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Chinese banks to keep steady lending in H2

08-09-2010 11:08 BJT

Some Chinese banks are saying they'll keep to a steady pace in lending for the second half of the year. But the total lending volume will decrease from the first half. This follows the central bank's latest report, which reiterates its monetary policy and calls for appropriate lending growth.

In general, Chinese banks lend out the most in the first quarter of the year, followed by decreases quarter by quarter. They extend the least loans in the last quarter. But this year, they've focused on balanced lending instead.

Chen Zuofu, Vice President of China Construction Bank said "We will continue to strictly implement the government's macro control policies and keep a steady lending pace in the second half as scheduled."

Tang Bin, Board Secretary of Industrial Bank said "Based on our current situation, the industrial bank will not exceed the total lending quota for this year. And we have confidence in maintaining a steady lending pace in the second half."

Chinese banks extended a total of 4.63 trillion yuan in the first half of this year. And volume is forecast to reach around 3.09 trillion yuan in the second half, adding the whole year's figure to 7.7 trillion yuan. That's slightly higher than the officially-set upper limit of 7.5 trillion yuan. Some banks say they will move from quantitative increase to qualitative upgrade.

Yi Huiman, Vice President of Industrial and Commercial Bank of China said "Although our new yuan loans increased significantly last year, our lending interest revenues decreased due to contracting interest margins. We have to change."

Experts predict lending demand in the second half will ease due to slowed economic growth and tightening policies on property sector.

Editor:Xiong Qu |Source: CNTV.CN

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