BOC pledges credit growth in 2010

Bank of China (BOC), the nation's third largest lender, will maintain relatively rapid credit growth in 2010, but the amount of new loans to be issued is likely to be lower than that of this year, Xiao Gang, chairman of the bank, said yesterday.

"This is in line with the government call to keep a moderately loose monetary policy next year," Xiao told China Daily on the sidelines of the 2009 China Environmental Protection Industry Development Summit.

The practice of maintaining a relatively fast lending pace was applicable to the entire Chinese banking industry because it was necessary to retain a relatively sizeable liquidity in the market next year, the chairman said.