Bank: New renminbi loan will remain in growth next year

Bank of China Development Report 2009-2010: New yuan loans will continue to grow next year "Xinhua news agency, Beijing, November 8," (Reporter Wang Shu Xu) Bank of Communications "2009-2010 China Development Report" is expected,　　2010 China's new RMB loan will still maintain a certain growth scale, to the end of 2010 Commercial Bank RMB loan balance will increase 8 trillion-9 trillion yuan, growth rate of 20%-22%. Lianping, chief economist at the Bank of communications, said at the conference that the relationship between the growth rate of renminbi loan and GDP growth was basically reversed. In the period of economic recovery, because of monetary policy and policy lag effect, the growth rate of RMB loans is significantly faster than the nominal GDP growth rate.　　From this point of view, 2010 20%-22%, 8 trillion-9 trillion yuan loan growth rate is more appropriate.　　2009 China's new growth in renminbi loans, the first three quarters has reached 8.67 trillion yuan, the year-on-year growth of more than 30%. The report also said that compared with 2009, the growth rate of RMB loans in 2010 will fall, one is that policy guidance will be the most important factor leading to the decline of loan growth; second, the growth rate of fixed assets investment will be higher, the loan growth rate will decrease correspondingly; third, the bill financing may continue to appear　　Four is that the financing structure of our country will take turning change, the direct financing is expected to speed up, and the substitution effect of bank credit will be enhanced significantly. So far, the Bank of Communications has issued a report on the development of China's banking industry for three consecutive years. In a report released last year, the bank accurately predicted that China's banking sector will slow down its earnings growth in 2009 but its global rankings will rise markedly.