Economist: China 2009 New Loans Likely at 9.4 Tln to 10.4 Tln Yuan

By staff reporters Liu Zhijie and Bai Xiaoou

(.com.cn) New loans extended by Chinese banks in 2009 will total 9.4 trillion yuan to 10.4 trillion yuan, Hua Ercheng, chief economist of China Construction Bank, told in an exclusive interview on Sept. 28.

Banks will likely extend up to 3 trillion yuan in the second half, about half the total for the first six months, he said.

No major projects will launch in November or December, Hua said.