Friday June 26, 05:54 AM
China bank loans to top 1 trillion yuan in June
SHANGHAI (AFP) - Chinese banks are likely to hand out a total 1.2 trillion yuan (175.7 billion dollars) in new loans in June despite warnings by regulators against irresponsible lending, state media reported.
The figure would compare with more than 664.5 billion yuan in May and 591.8 billion in April, the official China Securities Journal reported, citing an unnamed source.
China's banking regulator has urged lenders to ensure new loans are helping the economy after concerns that stimulus spending is being used to speculate on stocks and property, state media reported earlier this week.
Chinese banks granted a total of 5.84 trillion yuan in new loans in the first five months of 2009, including a record monthly high of 1.89 trillion in March.
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