China’s new bank lending in February is estimated to stand at 500 billion yuan, much less than earlier market forecasts which put it at over 800 billion yuan, Securities Times reported on Thursday.
According to the report, in February this year, new bank loans of China’s biggest four banks including the Industrial and Commercial Bank of China (ICBC, 601398.SH; 01398.HK), Agricultural Bank of China (ABC, 601288.SH; 01288.HK), Bank of China (BOC, 601988.SH, 03988. HK), and China Construction Bank (CCB, 601939.SH; 00939.HK) stood around 180 billion yuan.
The newspaper report could kindle investors’ liquidity concerns again and dent market sentiment, weighing on the stock market.
The benchmark Shanghai Composite Index were 0.95 percent lower Wednesday and stood at 2,428.49 by the close.