国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Surging new loans may prompt credit tightening

Xinhua | Updated: 2013-04-12 13:41

SHANGHAI - China's new yuan loans bettered estimates and jumped to 1.06 trillion yuan ($171 billion) in March, and as possible hot money flows in, analysts have predicted the country's central bank will soon tighten credit.

New local-currency lending stood at 2.76 trillion yuan in the first quarter of 2013, up 294.9 billion yuan year-on-year, the People's Bank of China said on Thursday.

Meanwhile, China's funds outstanding for foreign exchange have been climbing for three consecutive months, piling pressure on the central bank to draw back liquidity.

"The central bank will definitely tighten credit. China's monetary policy has been turning from loosening to neutral," Liu Ligang, chief economist with Greater China at ANZ Bank, told Xinhua.

"The regulators may use window guidance in the next one or two months. An interest rate cut is very likely in the second half this year," Liu added.

The broad measure of money supply rose 15.7 percent by the end of March, exceeding the 13-percent goal set by the Chinese government last month.

"Should the central bank be serious about its target, we would expect some form of tightening to bring down the loan growth," according to a note issued by Barclays on Thursday.

China's central bank has been recouping funds in its open-market operations. This week, its net drained 17 billion yuan by selling repos.

Aggregate financing, which includes non-bank lending, reached 6.16 trillion yuan in the first quarter of 2013, up 2.27 trillion yuan on last year.

Liu said the Chinese economy, boosted by previous monetary easing, will continue picking up in the next quarter.

However, the moderate inflation that China now enjoys is to end soon. China's CPI grew 2.1 percent in March since food price inflation dropped.

But as China's economy rebounds and the government deepens energy price reforms, Nomura financial services group predicted China's CPI would rise in the near term and climb above 3.5 percent year-on-year in the third quarter.

Inflows of foreign capital may also prompt the central bank to dampen the credit. Quantitative easing in the United States and inflationary policies in Japan injected huge funds into the global market while holding down yields on investment in developed economies. Therefore, hot money is rushing to emerging countries, especially to China where the local currency remains strong.

In February, Chinese financial institutions purchased 295.4 billion yuan of foreign exchanges after buying a record high of 683.7 billion yuan worth of foreign currencies in January.

"Since it's hard to control foreign capital inflows, regulators need to contain domestic credit expansion, in case the liquidity overflows," said Zhou Hongli, an economist with DBS Bank.

The central bank may also rein in "shadow" banking. Fitch Ratings downgraded China's yuan-denominated debt on Tuesday, saying risks over China's financial stability have grown.

As non-bank lending makes up half of China's total financing, stricter regulation over "shadow" banking could aggravate credit tightening.

"Such strong expansion of new loans in the first quarter will not be sustained," Barclays said.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
大庆市| 玛沁县| 长治市| 浙江省| 吉林省| 锡林浩特市| 凤台县| 法库县| 保定市| 永平县| 上林县| 高邮市| 正宁县| 北海市| 林口县| 瑞金市| 沿河| 桂东县| 库伦旗| 安岳县| 亳州市| 台安县| 广州市| 军事| 应城市| 寻甸| 南昌县| 正安县| 陵川县| 芦溪县| 江川县| 积石山| 南靖县| 清远市| 陇南市| 承德县| 启东市| 莱州市| 保山市| 拜城县| 沁水县|