Bank credit grows in June

The expansion of bank credit in June is expected to reach 800 billion yuan ($130 billion) while new loans extended by the four major State-owned banks will reach about 230 billion yuan, the Economic Information Daily reported.

Statistics released by Shenyin & Wanguo Securities showed that the four major State-owned banks increased credit loans with nearly 177 billion yuan for the first half of June and increased the amount to 216 billion yuan by the end of last month.

The number of medium- and long-term loans dropped while short-term loans and discounted bills increased.

Zhu Yan, a bank analyst from CITIC Securities, suggested that large State-owned infrastructure projects launched in Guangdong, Shandong, Anhui and Sichuan provinces had increased loan demand.