Free Newsletters - Space News - Defense Alert - Environment Report - Energy Monitor
. Earth Science News .




POLITICAL ECONOMY
China bank lending halves in February from January
by Staff Writers
Shanghai (AFP) March 10, 2014


China's bank lending halved in February from January, the government said Monday, amid worries over a near-default on a financial product structured by the risky trust sector.

Domestic banks extended 644.5 billion yuan ($105.0 billion) in new loans last month, up 24.5 billion yuan from the same month last year, the central bank said in a statement.

The February lending figure fell short of a median forecast of 740 billion yuan, according to a poll of economists by Dow Jones Newswires.

New loans had reached a huge 1.3 trillion yuan in January, previous People's Bank of China figures showed, with analysts attributing the spike to banks front-loading lending at the beginning of the year.

The central bank also said total social financing, a broader measure of credit, was 938.7 billion yuan in February, down 131.8 billion yuan from the same month last year.

"Much of the slowdown in broad credit was in trust loans, perhaps signalling that investors are becoming more wary following the highly-publicised near default in the sector at the end of January," Capital Economics said in a report Monday.

Early this year, a $500 million investment product structured by China Credit Trust and sold by the nation's largest bank ICBC avoided default after an unknown party made good on principal payments to hundreds of investors, though they did not receive pledged interest.

Authorities have pledged to strengthen regulation of risky trust products as part of their efforts to crack down on "shadow banking", a vast network of lending outside formal channels.

But analysts said the credit slowdown did not signal a policy change. The government has said it would maintain a "prudent" monetary policy for this year.

"February new yuan loan figures, though lower than market expectations, still rose from the same month last year, so there's no big surprise," Nomura International economist Wendy Chen told AFP.

"There's little change on lending policies," she said.

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





POLITICAL ECONOMY
China's growth target flexible: finance minister
Beijing (AFP) March 06, 2014
China's finance minister suggested Thursday that a growth rate of "7.2 percent or 7.3 percent" would be acceptable, a day after the country announced a 2014 target of "around 7.5 percent". China is the world's second-largest economy and a key driver of global growth, with its expansion goals closely watched. At the opening Wednesday of the National People's Congress, its Communist-contro ... read more


POLITICAL ECONOMY
Australia rescues 13 shipwrecked Iranians off Pakistan

UN report sees $1.45 tn global warming cost: media

Corpses still being found in Philippine typhoon zone

Tunisian navy 'rescues 98 sub-Saharan migrants'

POLITICAL ECONOMY
Candy Crush sweetens gaming for female audience

Saving planet goes from video game to real-world craze

Save Money and the Planet: Turn Your Old Milk Jugs into 3D Printer Filament

Ultra sensitive detection of radio waves with lasers

POLITICAL ECONOMY
Marine algae can sense the rainbow

The surface of the sea is a sink for nitrogen oxides at night

New targets needed to protect Lake Erie from massive 'dead zone'

Sea turtles 'lost years' mystery starts to unravel

POLITICAL ECONOMY
Warm Rivers Play Role in Arctic Sea Ice Melt

10,000 years on the Bering land bridge

Ancestors of America's original people lived on long-gone land bridge

Dartmouth-led research shows temperature, not snowfall, driving tropical glacier size

POLITICAL ECONOMY
Cows are smarter when raised in pairs

Virtual bees help to unravel complex causes of colony decline

Farmstar Expert opens new horizons, incorporating UAV Data

New invasive species breakthrough sparks interest around the world

POLITICAL ECONOMY
European flood risk could double by 2050

Flood cost in EU may double by 2050: study

Volcanoes, including Mount Hood in the US, can quickly become active

What has happened to the tsunami debris from Japan?

POLITICAL ECONOMY
Fighting breaks out in South Sudan army barracks

UN extends easing of Somalia weapons embargo

Nigerian military claim killing 13 Islamists in camp raid

Little hope for C.Africa Muslims ahead of French president visit

POLITICAL ECONOMY
Research reveals first glimpse of brain circuit that helps experience to shape perception

Cambodia's floating villages face uncertain future

Baylor Sheds New Light on the Habitat of Early Apes

Oldest fortified settlement in North America discovered in Georgia




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.