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China '09 bank loans likely to top 10 trln yuan -paper

Thu Jul 2, 2009 8:01pm EDT

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SHANGHAI, July 3 (Reuters) - New lending by Chinese banks is likely to exceed 10 trillion yuan ($1.46 trillion) this year, the Shanghai Securities News reported on Friday, even as bank regulators warned about risks from improper loans.

Combined yuan lending by China's big four state lenders, including Bank of China (601988.SS), reached 497 billion yuan in June, with overall lending in the country exceeding 7 trillion yuan in the first half, the newspaper said, citing unnamed sources and authoritative institutions.

Banking regulators warned last month that credit was being channelled to the property sector and the stock market, creating the risk of an asset bubble instead of supporting small businesses and the broader economy.

Regulators had sent out investigative teams to drive home their point. ($1=6.831 Yuan)

(Reporting by Fang Yan and Ken Wills)



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