News says M2 growth target drops to around 16% next year

-Our correspondent He Yuan Shanghai report 13th to China Securities News reporter revealed that 2011 broad money supply M2 growth target will be around 16%, financial institutions, the target size of new loans may be about 7.5 trillion, but this target size is not finalized.　　For the time being, the primary goal of next year's monetary policy may still be to protect growth, and monetary authorities are expected to be more likely to adopt quantitative monetary policy instruments to regulate macroeconomic operations. The current target for new lending next year, although not yet finalized, is now inclined to set this target at around 7.5 trillion.　　There have been major disagreements over the size of a reasonable credit target for next year, with some concerns that if credit is maintained at a higher level for the third consecutive year, inflationary pressures may increase, and the authorities say China's economy is large and that 7.5 trillion of its credit scale will not cause overall inflation. China Securities News reporter learned that the relevant and commercial banks are the next year to report credit scale plans.　　From the current situation, the five big state-owned banks basically maintain this year's new loan scale, some joint-stock banks plan scale slightly enlarged. Authorities say inflation is likely to peak in the two quarter of next year, with inflation probably peaking in 2011, so the policy will remain largely focused on controlling inflation for the next 3-6 months. But next year inflationary pressures will not be as big as expected.　　So monetary policy will tend to use more quantitative tools to regulate, and interest rates will be more cautious unless inflation worsens. Lianping, chief economist at Bank of Communications, said the company's funding needs are strong, and next year is the start of the Twelve-Five plan. Next year's monetary policy will be neutral. In order to balance economic growth and curb inflation two targets, new credit next year for more than 7 trillion yuan for good.