The big four typically account for half of the banking sector's lending, meaning that the June total for the entire banking industry could hit the 1 trillion yuan for the first time since March.
By staff reporter Wen Xiu
(Caijing.com.cn) China's four largest state-owned commercial banks lent a total of 497 billion yuan in June, nearly twice the amount of credit extended in May, according to data from banking officials obtained by Caijing on July 2.
Bank of China and Agricultural Bank of China each lent 177 billion yuan in June,
louboutin, followed by China Construction Bank with 79 billion yuan and Industrial and Commercial Bank with 64 billion.
Caijing reported on July 1 that new loans by the big four stood at 446 billion yuan as of June 29 – one day before month's end.
The latest data suggest that the four banks lent a combined 50 billion yuan in the last two days of the month, despite an earlier warning from the regulator urging banks to restrain lending surges at the end of the quarter.
China's new lending exceeded 1 trillion yuan in each of the first three months, before slowing to 591.8 billion yuan in April and 664.5 billion in May.
The big four typically account for half of the banking sector's lending, meaning that the June total for the entire banking industry could hit the 1 trillion yuan for the first time since March. However,
louboutin pas cher, loan growth at urban commercial banks,
louboutin chaussure, a category of bank that includes former credit cooperatives which have restructured, has accelerated recently, which could push the final June lending figure past the 1 trillion mark.
The central bank is due to release June lending figures in mid-July.
The China Banking Regulatory Commission earlier warned banks to restrain their lending towards the end of the quarter in a bid to prevent them taking on additional risk simply to meet internal quotas.
Zhou Zhongming, head of the banking regulator in Shandong province,
polo ralph lauren, told Caijing earlier that banks were unlikely to heed the regulator's warning, and only an overhaul of their credit regulation mechanism could curtail the practice.
BOC led the big four in the first half, extending a total of 907 billion yuan. BOC is shifting from reliance on foreign currency investments to yuan lending to boost flagging earnings hurt by the slowdown in global trade, Caijing reported earlier.
Agricultural Bank of China, the last of the big four to undergo restructuring, extended 820 billion yuan in the same period. The bank is seeking to increase business while maintaining credit quality,
doudoune moncler pas cher, the bank's vice president Pang Gongsheng told Caijing.
ICBC extended 826 billion yuan worth of credit,
moncler, while CCB extended 709 billion yuan in the first six months.
China's banks have been warned by the regulator to maintain strict credit control procedures in a bid to ward off a repeat of the non performing loan surge seen during the banking crisis five years ago.
International and domestic analysts have speculated that the massive lending spree in the first six months will lead to a serious deterioration in Chinese banks' balance sheets starting next year.
The CBRC has also set up a team to investigate bank loans that may have been diverted into the stock markets illegally, the Shanghai Securities News reported earlier, citing industry officials.
Independent economist Andy Xie said much of the new lending extended in the first five months has found its way into stock market and commodities speculation, reducing its impact on the real economy and raising the risk of inflation going forward.
1 yuan = 14 U.S.cents
Full article in Chinese: http://www.caijing.com.cn/2009-07-02/110192065.html
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