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Bank loan plummets to $86.6b in April
(Xinhua)
Updated: 2009-05-11 20:23 BEIJING -- China's bank credits fell considerably in April after staying above 1 trillion yuan for three straight months, with yuan-denominated new loans standing at 591.8 billion yuan (US$86.65 billion), the People's Bank of China said here Monday.
The country has pumped 4.58 trillion yuan (US$670 billion) of new loans into the economy in the first quarter to stimulate growth. The figure is already nearing 5 trillion yuan of new loans targeted for the whole year. In March alone, new loans increased by a record 1.89 trillion yuan. The reminbi deposit increased by 1.03 trillion yuan in April, making the outstanding deposit 53.29 trillion yuan, up 26.21 percent. In the first-quarter monetary policy report released earlier this month, the central bank said it would continue to instruct financial institutions to extend new loans, despite the earlier surge. |