Business
        

Money

BOC chairman confirms repeal of national credit line

Updated: 2011-01-18 13:45

By Gao Yuan (chinadaily.com.cn)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

Bank of China Ltd (BOC) will grant new yuan loans according to capital adequacy rate and other indicators as the central government has repealed the national credit line, National Business Daily reported Tuesday, citing Xiao Gang, chairman of BOC.

Related readings:
BOC chairman confirms repeal of national credit line CBRC to focus on credit, liquidity
BOC chairman confirms repeal of national credit line PBOC to keep credit, capital levels in check
BOC chairman confirms repeal of national credit line 14% credit growth predicted for 2011

Commercial banks will set their own loan scales according to the capital adequacy rate, operating status, loan and deposit ratio and the government's macroeconomic policies, said Xiao.

In addition, the report also said that BOC will grant approximately 420 billion yuan in new loans this year, bringing the banker's total credit up 10 percent year-on-year.

The bank's newly added loans were slightly higher than 600 billion yuan in 2010, the newspaper added.

After last year's multi-billion-dollar capital raising maneuver, BOC has no refinancing plans for this year, it said.

Specials

President Hu visits the US

President Hu Jintao is on a state visit to the US from Jan 18 to 21.

Ancient life

The discovery of the fossile of a female pterosaur nicknamed as Mrs T and her un-laid egg are shedding new light on ancient mysteries.

Economic Figures

China's GDP growth jumped 10.3 percent year-on-year in 2010, boosted by a faster-than-expected 9.8 percent expansion in the fourth quarter.

2011 postgraduate entrance exam
Pet businesses
Critics call for fraud case to be reopened