BEIJING, March 11 (Xinhua) -- China's new yuan-denominated lending in February stood at 700.1 billion yuan (102.65 billion U.S. dollars), half that of January's 1.39 trillion yuan, the People's Bank of China (PBOC), the central bank, said Thursday.
China's yuan-denominated lending in 2009 hit a record 9.59 trillion yuan, almost double that of the previous year.
According to PBOC, as of the end of February, the broad measure of money supply M2, which covers cash in circulation and all deposits, rose 25.52 percent from a year earlier to 63.6 trillion yuan. The growth rate was 0.56 percentage points lower than the figure for January.
Given China's new loans in the first quarter could be about 2.25 trillion yuan, lending in February was too high and would result in great pressure to control loans in March, said Liu Yuhui, an expert with the Institute of Finance and Banking, Chinese Academy of Social Sciences.
Liu Mingkang, chairman of the China Banking Regulatory Commission, also predicted that the country's new loans in the first quarter would be high. However, he said the new loans would decrease in the second and third quarters.
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