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China’s new yuan-denominated lending was just under 8.9 trillion yuan ($1.5 trillion) in 2013, up 688 billion yuan year on year, the central bank announced on Wednesday.
China’s banks made 482.5 billion yuan ($79.9 billion) worth of new yuan loans in December, lower than a forecast of 600 billion yuan.
New loans denominated in foreign currencies hit 584.8 billion in 2013, representing a year-on-year decrease of 331.5 billion yuan, according to Sheng Songcheng, financial official at the People’s Bank of China.
Total social financing, a measure of funds raised by entities in the real economy, stood at a record high at 17.3 trillion yuan last year, up 1.53 trillion yuan from a year earlier.
The new yuan lending took about 51.4 per cent of the social financing, the lowest amount in history and 0.6 percentage point lower than the previous year.