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China's CCB to lend 400-500 billion yuan in '09-report

Mon Dec 1, 2008 7:41pm EST

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BEIJING, Dec 2 (Reuters) - The China Construction Bank (0939.HK) (CCB) will extend 400 billion to 500 billion yuan in new loans 2009, an increase of 13-15 percent over this year's levels, a Chinese newspaper report said on Tuesday.

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The report in the Chinese-language Financial News also said that about half the loans will go to basic infrastructure projects, as Beijing seeks to shore up flagging growth through a massive stimulus programme.

A CCB executive, Zhang Gengsheng, told the newspaper that the bank "has enough capital liquidity, and as long as they are good projects, they will get enough capital support." (Reporting by Chris Buckley; editing by Ken Wills)

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