Banks offered 1.2 trillion yuan of new loans in January
Chinese banks may have offered a record 1.2 trillion yuan of new loans in January, China Securities Journal reported today.
The four biggest state-owned banks completed 20 percent of their full-year lending targets, the newspaper said.
Most of the money went to railways, highways, electricity grids and infrastructure, it said. Shenzhen Development Bank (000001,SZ), surged 9.12 percent. Bank of Communications (601328,SH; 03328,HK) advanced 5.37 percent in Shanghai trading. Industrial and Commercial Bank of China (601398,SH; 00386,HK) rose 2.95 percent on Shanghai trading.
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