Arab Today, arab today china\s nov new loans expected to see moderate growth
Last Updated : GMT 16:53:24
Arab Today, arab today
Arab Today, arab today

China\'s Nov. new loans expected to see moderate growth

Arab Today, arab today

Arab Today, arab today China\'s Nov. new loans expected to see moderate growth

Beijing - XINHUA

Experts expect China\'s new yuan-denominated lending for November to increase moderately, as enterprises\' credit demand has recovered along with signs that the stabilizing economy has begun to pick up. November\'s new yuan lending will rise to around 550 billion yuan (87 billion U.S. dollars), according to Lu Zhengwei, chief economist of Industrial Bank, as quoted by Shanghai Securities News on Tuesday. Sheng Hongqing, chief analyst on the macro economy with China Everbright Bank, also expects lending to increase, attributing this to a rebound in companies\' demand for medium- and long-term loans. Micro loans and lending for infrastructure projects, engineering machinery and housing mortgages have also contributed to the rising figure in November, he added. If their expectations are confirmed by data to be released by the country\'s central bank, it will mark the end of a two-month drop since September, data from the People\'s Bank of China show. Although the increase in new yuan lending is limited, the growth of social financing, a measure of funds raised by entities in the real economy, will outnumber that seen in the same period of 2011, propped up by surging trust loans and corporate bonds, Lu said. New yuan-denominated lending in October hit a 13-month low of 505.2 billion yuan, dropping 81.6 billion yuan year on year, data show. A report from China Merchants Securities said new yuan lending for the full year is expected to stand below 8.3 trillion yuan, as loans in the last two months are likely to be limited. The figure reached 7.23 trillion yuan by the end of October.

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