New loans issued by China's four biggest banks reached a total of 3.2 trillion yuan in the first half of the year, accounting for 43% of the national total of 7.37 trillion yuan.

During the first quarter, the four big banks accounted for 50.5% of all lending. Experts said that this was an indication that the big banks were gradually tightening their credit policy. 

The four banks are the Industrial and Commercial Bank of China (ICBC), Agricultural Bank of China (ABC), Bank of China (BC) and China Construction Bank (CCB).

Meanwhile, statistics reported on the website of the People' Bank of China show that at the end of June, the broad money supply (M2) and narrow money supply (M1) were 56.89 trillion yuan and 19.32 trillion yuan respectively, up 28.46% and 24.79% when compared with last year.

The data also revealed that the sum of outstanding loans held by all financial institutions was 37.74 trillion yuan at the end of June, up 34.44% on the same period last year.

Source
People's Bank of China
China Securities Journal
Image (www.ce.cn)