china credit boom still running strong
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

China credit boom still running strong

Arab Today, arab today

Arab Today, arab today China credit boom still running strong

Beijing - AFP

Ratings agency Fitch on Wednesday warned credit levels in China remained high due to an increase in channels for new financing, one day after Beijing reported a drop in new loans issued by banks. "The post-crisis credit boom in China is often misportrayed as a brief, isolated event in the first half of 2009," Charlene Chu, head of Fitch's ratings of Chinese banks, said in a statement. "In reality, the credit boom lasted two solid years and is still running strong as new channels of credit expand." In 2009, lending nearly doubled to 9.6 trillion yuan due to government efforts to spur economic activity amid the global financial crisis. New loans slowed to 7.95 trillion yuan in 2010, but still exceeded the official target. Chinese policymakers have been pulling on a variety of levers to rein in lending on fears soaring property prices and inflation -- which hit a three-year high of 6.4 percent in June -- could trigger social unrest. In a sign their efforts are bearing fruit, China's central bank announced on Tuesday that new loans issued by banks fell nearly 10 percent in the first half of 2011 to 4.17 trillion yuan. Fitch estimates that the volume of new loans issued by banks in 2011 will reach 8 trillion yuan, but it warns total new financing -- which includes lending by non-bank financial institutions -- could hit 18 trillion yuan. Many individuals and small firms finance their activities through non-bank institutions, such as pawnbrokers. Last week, ratings agency Moody's also warned China may have understated the debt burden of local governments by as much as $541.6 billion, adding the proportion of bad loans could be higher than previously forecast.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china credit boom still running strong china credit boom still running strong

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china credit boom still running strong china credit boom still running strong

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday