China's aggregate financing dives in Jan
Updated: 2012-02-17 14:48
By Wang Xiaotian (chinadaily.com.cn)
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BEIJING — China's aggregate amount of financing, which includes lending, bond and equity financing, was reported at nearly 956 billion yuan ($152 billion) last month, a 46 percent drop of 800 billion ($127 billion) from that of January 2011, according to the People's Bank of China on Friday.
Yuan lending in January came to 738 billion yuan, some 77 percent of the aggregate, and a 288 billion yuan drop as compared to the previous year. Foreign currency-denominated lending in January also declined by 101 billion yuan.
Financing through corporate bond issuance declined by 57 billion yuan to 44 billion yuan, a 56 percent drop from a year earlier, while domestic equity financing fell 89 percent, from 65 billion yuan to 8 billion yuan.
In a report posted on its official website on Wednesday， the central bank said it will maintain an appropriate pace in lending and keep total financing at a "reasonable" level.
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