Credit supply expected to top target by November
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China's credit supply this year has exceeded 7.5 trillion yuan by the end of November, according to sources. It is estimated that new loans in November reached about 600 billion yuan, Shanghai Securities News reported Tuesday.
Hu Xiaolian, deputy governor of the People's Bank of China, said earlier that the monetary authority is facing a challenge to keep new loans within the target range it set at the beginning of the year.
The lending expansion rebounded in recent months because of robust credit demand. Statistics show that the new loans in the past five months was higher than that of the corresponding period last year, the newspaper reported.
According to the newspaper, banks have already started to tighten credit since November. Recent measures call for banks to be less generous in issuing new loans.
