China Daily Website - Connecting China Connecting the World
USEUROPE AFRICAASIA 中文Français

Sorry, the page you requested was not found.

Please check the URL for proper spelling and capitalization. If you're having trouble locating a destination on Chinadaily.com.cn, try visiting the Chinadaily home page

BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
Business\Markets

Credit data may reflect efforts to curb risk

By WANG YANFEI | China Daily | Updated: 2017-02-15 07:23

Credit data may reflect efforts to curb risk

An employee counts yuan banknotes at a bank in Huaibei, Anhui province, June 22, 2010. [Photo/Agencies]

Key credit figures released by the central bank on Tuesday reflect Beijing's intention to keep prudent monetary policy, with little likelihood of further easing, to better fend off financial risks, analysts said.

Total social financing, the central bank's indicator measuring credit and liquidity in the economy, registered a record high 3.74 trillion yuan ($544.8 billion) in January, up from 1.63 trillion yuan the previous month, data from the People's Bank of China showed on Tuesday.

Chinese banks issued 2.03 trillion yuan in new yuan loans in January, compared with 2.5 trillion yuan in the same period last year.

Zhou Hao, an economist with Commerzbank, said lower than expected new yuan loans show that the central bank might have influenced the amount of credit by asking banks to control the loans issued.

Medium to long term loans to individuals issued by Chinese banks, mostly mortgages, reached 629.3 billion yuan in January, making up only about 30 percent of total new yuan loans, compared with 41 percent the previous month.

"The central bank's strict control over the frenzied real estate market would lead to a continued declining share of mortgages of the total new yuan loans, reflecting more emphasis being put on curbing financial risks," said Xie Yaxuan, chief economist at China Merchants Securities.

A Moody's Investers Service report released on Monday said that strong mortgage lending growth may not be sustained this year, as tightening measures introduced last year in the property market begin to have an impact and sales decline in value and volume.

Wang Youxin, an economist with Bank of China, expects that the central bank will maintain prudent monetary policy, after the central bank sent signals to the market that further easing was unlikely.

The central bank raised the interest rate it charges in the open market by 10 basis points earlier this month.

Today's Top News

Editor's picks

Most Viewed

China Daily Website - Connecting China Connecting the World
USEUROPE AFRICAASIA 中文Français

Sorry, the page you requested was not found.

Please check the URL for proper spelling and capitalization. If you're having trouble locating a destination on Chinadaily.com.cn, try visiting the Chinadaily home page

BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US