Source: CCTV.com

11-13-2008 13:26

China's central bank says bank loans rose 15 percent year-on-year in October to hit nearly 30 trillion yuan, or around 4 trillion US dollars. According to the People's Bank of China, this marks the second straight month of increase in outstanding loans.

China's central bank says bank loans rose 15 percent year-on-year in October to hit nearly 30 trillion yuan.

Analysts say this is largely due to easing credit controls. And they're predicting further rises in the wake of the government's multi-trillion yuan stimulus package. Meanwhile, more figures for October, money supply growth fell for the fifth consecutive month.

The broad measure of money supply, M2, went up 15 percent. But that was still around 0.3 percentage points lower than what was recorded in September. Experts say this could signal worries that commercial banks have about the outlook of the economy.

 

Editor:Xiong Qu