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China's May lending seen to reach 900 bln yuan-paper
May 22, 2013 / 1:06 AM / 4 years ago

China's May lending seen to reach 900 bln yuan-paper

SHANGHAI, May 22 (Reuters) - China’s four major banks issued new loans of 233 billion yuan ($37.98 billion) by May 21st, 21st Century Business Herald reported on Wednesday, citing industry sources, adding that total loans for the month could reach 900 billion yuan.

Total loans issued by China’s top four banks, including ICBC , Agricultural Bank of China, Bank of China and China Construction Bank , accounted for 31 percent of total lending in April, the paper said.

Chinese banks made 792.9 billion yuan ($129.3 billion) of new loans in April, largely in line with market expectations, while money supply jumped as the central bank kept policy accommodative to support the economy.

The lending figure, issued by the People’s Bank of China on Friday, was a shade lower than the median forecast of 800 billion yuan, which compared to March’s 1.06 trillion yuan.

$1 = 6.1356 Chinese yuan Reporting by Fayen Wong; Editing by Eric Meijer

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