China's top banks released US$21.9bn new CNY loans in August

The Big Four’s new yuan loans in August is significantly lower than July's $77.07bn.

China's Big Four state-run banks issued more than CNY140 billion (US$21.9 billion) combined in new yuan loans Aug. 1-29, less than the average of around CNY200 billion ($31.27 billion) issued over the previous two months, the 21st Century Business Herald reported Friday, citing an unnamed person close to the state-run big banks.

"The new yuan loans in August is expected to be less than that in July," an unidentified person in charge of credit at a state-own bank was quoted as saying.

Chinese financial institutions issued CNY492.6 billion ($77.07 billion) worth of new yuan loans in July, down from CNY633.9 billion ($99.18 billion) in June and below economists' expectations of CNY555 billion ($86.83 billion).

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