- Wednesday 2010-03-10 10:13
New loan growth in 2010 is expected to hit 7.5 trillion yuan, reports Xinhuanet, citing Liu Mingkang, President of the China Banking Regulatory Commission (CBRC).
In 2009, the amount of new loans totaled 9.59 trillion yuan.
According to the report, CBRC required banks to ensure that the amount of new loans for small and medium-sized enterprises in 2010 should not be less than the amount lent in 2009. In addition, the amount of new loans for the agricultural sector in 2010 should exceed that in 2009.
As of end 2009, 2,792 towns across China had no access to financial institutions. It was reported that CBRC intends to solve this problem within three years.
CBRC has released four documents in 2010 to ensure that all loans granted by banks enter the real economy in order to prevent inflation.
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