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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: China's central bank sees 520 bln yuan in Q4 loans: report AFP - 21 minutes ago SHANGHAI (AFP) - - Chinese banks are expected to hand out more than 520 billion yuan (76 billion dollars) in new loans in the fourth quarter, according to central bank figures reported by state media Wednesday. China's total new yuan loans for the year will exceed four trillion yuan, the Shanghai Securities News cited a senior central bank official as saying. New yuan lending in the January-September period totalled 3.48 trillion yuan, up 3.6 percent from 3.36 trillion yuan during the same period last year, according to official figures. The forecast published by the newspaper, a mouthpiece for China's securities regulator, indicated that despite the central bank's attempts to loosen lending restrictions, new loans would be smaller in the fourth quarter. The central bank imposed strict loan controls last year and the first half of 2008 to rein in credit growth and prevent the economy from overheating. But it has since relaxed those limits and lifted loan quotas for lenders recently as China's economic growth slowed to 9.9 percent in the first three quarters of the year from 11.9 percent in the whole of 2007. An unnamed central bank official provided the figures in an interview detailing how it planned to help put into effect Beijing's newly announced economic four trillion yuan stimulus package, the report said. The central bank will continue to adjust interest rates and bank reserve requirements to ensure ample liquidity and stable credit growth, the official was quoted as saying. New loans were also down sharply in the final quarter of 2007 at 272.1 billion yuan from 817.8 billion in the previous quarter. But this was due the central bank's moves to tighten monetary policy to cap credit growth and curb excessive liquidity. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy China's central bank sees 520 bln yuan in Q4 loans: reportAFP - 21 minutes ago GM seeks to raise stake in China vehicle JV-paperReuters - 1 hour 18 minutes ago Official: Being upbeat can help Australian economyAP - 1 hour 36 minutes ago Maldives to trim sales pitch to sail financial stormAFP - 2 hours 20 minutes ago Related Articles: Business Cathay says passenger growth falls sharply behind capacity growthAFP - 15 minutes ago Venture funds tap China game designers amid downturnReuters - 21 minutes ago China's central bank sees 520 bln yuan in Q4 loans: reportAFP - 21 minutes ago Gazprom sees oil supply shortage on low investmentReuters - 22 minutes ago FOCUS-Indian printers ready to cash in on slowdown thriftReuters - 27 minutes ago Enlarge Photo China's central bank sees 520 bln yuan in Q4 loans: report Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Britney Spears's son hospitalized: statement US expands record bailout of insurance giant AIG Obama, Bush discuss world of challenges Ancient 4,300-year-old pyramid discovered in Egypt Swiss fear more pressure on bank secrecy after Obama victory View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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