Material life

China's new bank loans hit $223.96B in June

(Xinhua)
Updated: 2009-07-08 20:12

BEIJING: China's new yuan-denominated loans stood at 1.53 trillion yuan (about 223.96 billion U.S. dollars) in June, the People's Bank of China said here Wednesday.

The June figure more than doubled from 664.5 billion yuan in May, bringing new yuan-denominated loans in the first half to 7.37 trillion yuan, far exceeding the full-year target of 5 trillion yuan.

Renminbi deposits increased 2 trillion yuan, compared with a 1.33-trillion-yuan growth in May, said the bank.

China Banking Regulatory Commission official Wang Huaqing had warned Tuesday of possible risks in the financial system posed by the current rapid loan growth and a concentration of loans in certain industries and businesses.