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China bank loans top 224 bln dlrs in June: state media
Shanghai (AFP) July 9, 2009 Chinese banks extended a total of 1.53 trillion yuan (224 billion dollars) in new lending in June despite regulators' concerns over the risk of bad loans rising, state media reported Thursday. The figure more than doubled from 664.5 billion yuan in May and 591.8 billion in April, the official Shanghai Securities News said, citing the central bank. The record pace of lending took new yuan-denominated loans in the first half to 7.37 trillion yuan, as the latest sign showing the government's drive to hit its eight percent economic growth target for 2009. June's figure was the third-biggest monthly credit growth this year, compared with 1.89 trillion yuan in March and 1.62 trillion in January. China's banking regulator has urged lenders to ensure new loans are helping the real economy, but recent sharp rises in lending have also raised credit risk worries. Share This Article With Planet Earth
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G8 rifts emerge as economic danger signs spiedL'Aquila, Italy (AFP) July 8, 2009 The world's most powerful leaders warned Wednesday the global economy is still in peril, at a summit marred by Russia's renunciation of climate change targets and splits over Iran. The build-up to the Group of Eight gathering in L'Aquila, which was devastated by an earthquake less than 100 days ago, was also overshadowed by turmoil in China which prompted President Hu Jintao to hurry back to ... read more |
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