Money

China banks slow lending due to quota limits

(Agencies)
Updated: 2010-12-02 11:14

Chinese banks have slowed their pace of lending after almost depleting this year's quota and as regulators urged them to control credit expansion toward the year-end, Reuters reported on Dec 2, citing the Shanghai Securities News.

Related readings:  Banks come close to reaching annual lending quotas  Credit supply may top govt targets  China loan growth of 15% enough - PBOC adviser China's banks 7t yuan lending limit in 2011

Some branches of Chinese banks have already stopped lending, and are starting to prepare for next year's business, the newspaper said.

China's new lending totaled 6.88 trillion yuan ($1 trillion) during the first 10 months of this year, compared with the annual target of 7.5 trillion yuan, leaving little room for credit expansion in December, the newspaper said.