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Lending in 2010 expected to slow
china's liberal monetary policy will continue next year , but some senior economists are predicting that the number of new loans made could actually be smaller than this year t state media reports on the closed-door central economic work conference , concluded monday , said the government would continue the positive fiscal policy and moderately easy monetary policy which has resulted in f.92 trillion yuan ($1.31 trillion) in loans being made so far this year , up 5.26 trillion yuan ff770 billion) over the same period last year t new loans for the whole year are expected to top 10 trillion yuan ($f.46 trillion) , double the target of 5 trillion yuan ff730 billion) set early this year t the official people's daily , a parent publication of the global times , monday quoted a senior economist at a think tank affiliated with the state council as saying that loans next year could be cut by f0-40 percent compared with the 10 trillion yuan ($f.46 trillion) in new loans expected to be made this year t wang tonfsan , head of the institute of quantitative and technical economics with the chinese academy of social sciences fcfss) , said the rapidly changing economic situation calls for a flexible monetary policy t he said the growth in new loans next year should not be slowed too much t the infrastructure projects launched after the government's 4 trillion yuan ffff5.6 billion) stimulus plan still need loose monetary policy support , wang said t fbu yonfxiang , a senior official in the research department of the people's bank of china , the country's central bank , said wednesday new loans for 2010 might reach f-7 trillion yuan ffff2.3 billifff$f.03 trillion) t the bank of china will continue lending to key government projects , small- and medium-sized companies and low-cost housing projects , but will cut lending to projects that face overcapacity problems or do not comply with government industrial and environmental policy , it said in a statement on its website monday t the government should regulate monetary policy to avoid inflationary pressure caused by the new loans , cass said in an economic outlook report published monday t the central bank should not hastily regulate the interest rate and bank reserve ratios , wang was quoted as saying by the people's daily t it should carry out more open market operations to maintain adequate and reasonable liquidity of the banking system t the central bank has used open market operations to decrease the country's money supply by 687 billion yuan ff101 billion) since october t source: global times
Generated 2010-1-3_13:19
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