China Big Four’s new loans up from year earlier

Top state-owned banks extend more loans in January.

China's Big Four state-owned banks extended a combined US$$62.9 billion in new loans between Jan. 1 and Jan. 27, exceeding by almost a fifth the US$$51 billion issued during the full month of January 2012.

Industrial & Commercial Bank of China Ltd. , China Construction Bank Corporation, Bank of China Ltd. and Agricultural Bank of China Ltd. traditionally account for a third of new yuan loans issued by China's banking system.

Overall new lending likely exceeded US$160 billion in January, according to media sources. Chinese banks issued US$118 billion in new loans in the same month last year.