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China's new yuan loans hit 1.3t yuan in March

By Xin Zhiming (chinadaily.com.cn)
Updated: 2009-04-02 20:26

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China's new yuan loans amounted to 1.3 trillion yuan in March as the country continued to pump in massive liquidity into the economy to battle impacts of the global financial crisis, a source close to the matter told China Daily.

A report by Caijing magazine on Tuesday said new yuan loans extended by the Industrial and Commercial Bank of China, China Construction Bank, Bank of China and the Bank of Communications exceeded 800 billion yuan in March.

China's new yuan loans surged to 1.62 trillion yuan in January, the highest in history, from less than 1 trillion yuan in previous months. In February, new yuan lending eased to 1.07 trillion yuan.