China's newly increased loans are expected to reach 700 billion yuan in July, Shanghai Securities News reported today, citing an industry insider.
According to the insider, yuan-denominated loans by China's big-four banks, Construction Bank of China, Bank of China, Industrial and Commercial Bank of China and Agricultural Bank of China, totaled 243 billion yuan, a 78 billion-yuan increase from that of June.
Their loans accounted for 27.3 percent of all newly increased loans in July, the newspaper reported, adding that analysts estimated that the proportion in monthly average was 30 percent to 40 percentin the first half of the year.
Based on that estimation, securities traders said the newly increased loans are likely to reach 700 billion yuan in July.
