1. Text: | Print|

      New yuan-denominated loans dip in April

      2014-05-13 08:19 China Daily Web Editor: Qin Dexing
      1
      Client managers from Bank of Taizhou visit a clothing vendor to ask about his loan needs in Taizhou, Zhejiang province. New yuan loans amounted to 774.7 billion yuan ($124.95 billion) in April, down from March's 1.05 trillion yuan. HAN CHUANHAO/XINHUA

      Client managers from Bank of Taizhou visit a clothing vendor to ask about his loan needs in Taizhou, Zhejiang province. New yuan loans amounted to 774.7 billion yuan ($124.95 billion) in April, down from March's 1.05 trillion yuan. HAN CHUANHAO/XINHUA

      Policymakers seen tolerating slower credit growth even as economy slows

      New lending by domestic banks contracted in April, the central bank said on Monday, as the government tolerated weaker credit expansion despite the potential impact on economic growth.

      New yuan-denominated loans reached 774.7 billion yuan ($124.95 billion) last month, down 17.6 billion yuan year-on-year, the People's Bank of China said in a statement. The figure was also a dramatic decrease from 1.05 trillion yuan in March.

      Total social financing fell to 1.55 trillion yuan in April from 2.07 trillion yuan the month before, according to central bank statistics.

      Total social financing is the broadest measure of credit. It covers numerous funding types and sources, such as loans in renminbi and foreign currency, trust loans, the equity market, off-balance-sheet items, corporate bonds, insurance, micro-lending and industry funds.

      It doesn't include the shadow banking system.

      "In the face of calls for stimulus, China's government appears comfortable with a continued slowdown in credit growth," Mark Williams, chief Asia economist for Capital Economics Ltd, said in a research note.

      The figures defied market expectations for further monetary easing to boost the slowing economy, after the PBOC in late April lowered the reserve requirement for some rural banks.

      In its quarterly monetary policy report released last week, the PBOC said that it would maintain a "prudent" monetary policy and "fine-tune" it when appropriate to provide a stable environment for the domestic economy.

      Over the weekend at a forum in Beijing, PBOC Governor Zhou Xiaochuan reiterated that the central bank would fine-tune policy settings as needed, but he ruled out the possibility of any massive stimulus, media reported.

      "The government's composure so far is an encouraging sign that policymakers are still giving priority to bringing credit risks under control," said Williams.

      Financial markets were unsettled by several debt default cases earlier this year, which triggered tighter regulations and credit.

      First-quarter industrial output was weaker than financial experts had expected, and there were calls for monetary easing via a lower reserve ratio.

      "As broad money supply growth in April was in line with the government's full-year target of 13 percent, pressure for the central bank to lower the reserve requirement will decrease accordingly, which means China will pursue a steady monetary policy," said Wen Bin, director of macroeconomic research at the Institute of International Finance under Bank of China Co Ltd.

      Broad money supply, or M2, reached 116.88 trillion yuan at the end of April, up 13.2 percent from a year earlier and well above the consensus forecast for growth of 12.5 percent.

      But Wen still said the PBOC should lower the reserve ratio to increase bank lending to small and medium-sized enterprises.

      "Some of the banks' risk provisions should be used for special loans to SMEs. In this way, monetary policy will better support China's structural readjustment and the development of the real economy," Wen said.

      He said that the government should give SMEs more ways to raise capital, such as by issuing bonds, at times when banks become more cautious toward lending.

      Comments (0)
      Most popular in 24h
        Archived Content
      Media partners:

      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.

      主站蜘蛛池模板: 日本视频免费在线| 成人在线免费观看| 色噜噜AV亚洲色一区二区| 精品女同一区二区三区免费播放| 毛片a级毛片免费观看免下载| 亚洲毛片无码专区亚洲乱| **真实毛片免费观看| 亚洲最新黄色网址| 性xxxxx免费视频播放| 亚洲人成图片网站| 精品久久洲久久久久护士免费 | 怡红院亚洲红怡院在线观看| 日韩黄色免费观看| 暖暖免费中文在线日本 | 亚洲四虎永久在线播放| 最近2019中文字幕免费直播| 亚洲天堂一区在线| 日本免费人成黄页网观看视频| 亚洲成av人在线观看网站| 国产免费变态视频网址网站| 无码AV动漫精品一区二区免费| 综合久久久久久中文字幕亚洲国产国产综合一区首 | 亚洲AV日韩AV无码污污网站| 四虎影院免费在线播放| 国产成人综合亚洲绿色| 久久影视国产亚洲| 香港a毛片免费观看| 亚洲综合色7777情网站777| 国产精品免费视频播放器| 国产97视频人人做人人爱免费| 国产成人精品日本亚洲| 亚洲三级高清免费| 免费观看又污又黄在线观看| 日本亚洲成高清一区二区三区| 在免费jizzjizz在线播| 国产成人亚洲毛片| 亚洲午夜精品一区二区| 国产大片51精品免费观看| 可以免费观看的毛片| 国产日本亚洲一区二区三区| 区三区激情福利综合中文字幕在线一区亚洲视频1 |