Chinese bank lending hits US$99.6 billion in February

Total lending for the month stood at US$172 billion.

The People’s Bank of China, the central bank, said the total for February was 137% lower than the record US$408 billion set in January. It also said M2 money supply rose 15.2% from a year earlier.

China’s bank loans as a share of funding in the economy fell to a record low last year, said PBOC, and emphasized the growth of alternative financing channels that have prompted warnings of rising credit risks.

New renminbi bank lending was US$1.3 trillion in 2012, accounting for 52% of the US$2.5 trillion in total financing, the smallest since 2002 when loans had a 91.9% share.

The China Securities Journal said that new lending is expected at more than US$1.4 trillion this year.