New Lending Target for 2011 Reported to be between 6 and 7 Trillion Yuan

An anonymous source revealed that the official new RMB-denominated
lending target for Chinese financial institutions in 2011 is likely to
be in the range of 6 to 7 trillion yuan, down from this year's
official target of 7.5 trillion yuan. However, the report also noted,
that based on past experience, new bank lending often exceeds official
targets and the amount of new loans issued in 2010 is likely to reach
8.5 trillion yuan. As of October, 6.88 trillion yuan in new loans had
already been issued.

Source
Century Weekly

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