China's credit mainly flows to eastern regions

BEIJING - Over half of China's new credit flowed to the eastern coastal areas in the first six months of 2014, according to data from the People's Bank of China on Wednesday.

Ten provincial-level regions, including Beijing, Shanghai and Guangdong, borrowed 5.19 trillion yuan ($843 billion), or 51.7 percent of total aggregate financing, from January to June.

Total aggregate financing, which covered all new loans, bankers' acceptance, corporate bonds and equities, reached 10.57 trillion yuan on the Chinese mainland.

Among 31 provinces, autonomous regions and municipalities on the mainland, Jiangsu province in East China borrowed the most during the period, with aggregate financing of 1.04 trillion yuan.

In contrast, Southwest China's Tibet autonomous region raised only 43.6 billion yuan in aggregate financing in the first half of the year, ranking it bottom among provinces, autonomous regions and municipalities.

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