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China Jan. new loans at 1.04 trln yuan

02-16-2011 08:48 BJT Special Report:China’s Economic Data for Jan. |

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Chinese banks are inadvertently helping to limit inflation, by lending a quarter less than they did last year. Figures from the central bank show new yuan-denominated loans stood at 1.04 trillion yuan in January. That's 320 billion yuan, or 23 percent less than the same period last year, and well bellow market expectations.

Analysts say it indicates the government's tightening measures have yielded some results. But some say the figure is still strong and reflects a robust demand for loans in the first month of this year. The figures from the central bank also show the annual growth in China's broad M2 measure of money supply slowed to 17.2 percent from 19.7 percent in December.

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Editor:Xiong Qu |Source: CNTV.CN

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