China bank loans could top 10 trillion yuan in 2009
New lending by Chinese banks is likely to exceed 10 trillion yuan this year, according to a Shanghai Securities News report.
The announcement came even as China's bank regulators warned the industry about the risks of improper loans. Combined renminbi lending by China's big four state lenders reached 497 billion yuan in June, with total lending in China exceeding 7 trillion yuan in the first half of 2009; bank lending is typically front-loaded toward the beginning of the year.
Regulators warned last month that credit directed to the property sector and the stock market was creating the risk of an asset bubble instead of supporting small businesses and the broader economy.
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