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| Friday, September 05, 2008 23:36:41 |
China Construction Bank July net lending reached almost zero
China Construction Bank (CCB), one of China's big four state lenders, had almost zero net lending in July, falling sharply from industry-leading lending levels in May, Forbes reported, citing the China Business News reported. According to the newspaper, in May, the most recent period with available figures, new lending by CCB was 30.2 bln yuan, well over the 16.6 bln lent by the Industrial and Commercial Bank of China and the 17.2 bln by the Bank of China. The central bank has repeatedly ordered the China Construction Bank to buy low-yield central bank bills in response to the commercial lender's aggressive lending earlier in the year, and the decreased lending represents the bank complying with the central bank's directives, the report said.
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