Chinese banks' medium- to long-term loans finally rebound after a 2-month decline

Loans were up RMB309.8b in January.

According to CCB International Securities, medium- to long-term loans rose RMB309.8b in January, a strong rebound from the previous two months when such loans declined on a net basis.

Here's more from CCB International Studies:

We attribute the rebound to the resumption in LGFV and infrastructure-project lending. We expect medium- to long-term lending to remain strong in 1Q13F. Short-term loans grew by RMB293.5b in January while retail loans grew RMB471.4b in January, driven by a large rise in long-term retail loans.

Medium- to long-term loans rose RMB268.3b last month, the highest level of monthly growth since January 2010, which we attribute to strong mortgage lending over the month.