Communist Tax Lawyer

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Archive For October, 2009

Lending Up in China

October 8th, 2009

Xinhua reports that, as urban fixed-asset investment continues to rise, China will see a steady increase in mid to long term lending.

According to a report from Galaxy Securities on Wednesday, monthly new yuan-dominated loans over the next four month are expected to reach 450 billion yuan (USD65.9 billion).

Data from the National Bureau of Statistic showed that fixed-asset investment in China’s urban areas rose to 11.3 trillion yuan, up 33 percent in the first eight months of 2009.

New loans in the first eight months stood at 8.15 trillion yuan, far exceeding the year end target of five trillion yuan, according to the People’s Bank of China.