China's banking regulator urges reasonable lending

 
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PostWysłany: Czw 16:08, 20 Sty 2011    Temat postu: China's banking regulator urges reasonable lending

China's banking regulator urges reasonable lending to support real economy,[link widoczny dla zalogowanych]
The China Banking Regulatory Commission (CBRC) announced Monday that it will guide the nation's banks to a scientific pace of lending this year as it stressed bank loans should better serve the real economy.The CBRC said in a statement on its website that it will also expand and improve financial services in the country's rural areas and encourage banks to support borrowing activities from small-sized companies.
The CBRC said it will carry out more studies in stepping up support for the country's affordable housing program,[link widoczny dla zalogowanych], which aims to build 10 million affordable housing units for low and middle income residents this year.
The commission also said it will continue to implement the differentiated home loan policy adopted last year,[link widoczny dla zalogowanych], under which bank loans for third home purchases are suspended and down payments for all first-time home buyers are at least 30 percent of the purchase price,[link widoczny dla zalogowanych], while second home buyers will have to pay an even higher amount of down payments,[link widoczny dla zalogowanych], at 50 percent.
Further,[link widoczny dla zalogowanych], the CBRC said it would tighten controls over lending to local government's financing vehicles in order to ward off risks.Government data showed new yuan-denominated lending in China reached 7.95 trillion yuan (about 1.2 trillion U.S. Dollars) last year,[link widoczny dla zalogowanych], overshooting the government's full-year target of 7.5 trillion yuan.
Foreign direct investment (FDI) into China hit a record 105.74 billion U.S. dollars last year,[link widoczny dla zalogowanych], up 17.4 percent year on year,[link widoczny dla zalogowanych], the Ministry of Commerce (MOC) announced Tuesday.In December alone,[link widoczny dla zalogowanych], China attracted 14.03 billion U.S. dollars of FDI,[link widoczny dla zalogowanych], up 15.6 percent year on year,[link widoczny dla zalogowanych], making it the 17th consecutive month of FDI growth since August 2009.
The rapid FDI growth could be attributed to robust development in the service sector and the country's central and western regions,[link widoczny dla zalogowanych], said MOC spokesman Yao Jian.FDI in the service sector rose 28.6 percent last year and that in central and western regions climbed 27.6 percent year on year,[link widoczny dla zalogowanych], Yao said.
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