Shanghai's new RMB loans hit RMB 371.6 bln in H1

Jul. 15, 2009 (China Knowledge) - Shanghai's new RMB-denominated loans reached RMB 371.6 billion in the first half of this year, 2.3 times the amount in the same period of last year, said the Shanghai headquarters of the People's Bank of China in a statement.

The figure was RMB 97.1 billion more than the full-year amount last year, according to the statement.

The June, the city's new RMB loans increased by RMB 81.8 billion year on year to a record high of RMB 99.9 billion.

The new loans mainly provided funding in sectors such as leasing and business services, real estate, water conservancy, environmental protection, and public facility management.

In the first six months of this year, banks extended RMB 206.76 billion in long-term loans, including RMB 71.91 billion for infrastructure, RMB 22.24 billion in syndicated loans and RMB 31.83 billion for personal consumption.

In the same period, individual mortgage loans swelled RMB 20.3 billion year on year to RMB 26.2 billion, due to a recovery in the real estate market.

The statement also said that new RMB deposits in the first half reached RMB 570.8 billion, which is RMB 289.3 billion more than the amount in the same period of last year and RMB 55.33 billion more than the full-year amount in 2008.