New Lending in March Eased to 500 Billion Yuan

New loans issued in March continued to slow as the government took steps to rein in credit amid rising inflation and risks of asset bubbles. China's central bank yesterday released the first quarter's financial data, showing Chinese banks issued 510.7 billion yuan of new loans in March, down from the 700.1 billion yuan in February. That pushes the total new loans issued in the first quarter of 2010 up to 2.6 trillion yuan, which accounted for some 30 percent of 7.5 trillion yuan target for the whole year.

Source
The Beijing News

Google Translation