Chinese banks traditionally rush to book loans in January to boost their full-year interest earnings, and part of their haste now probably also stems from fears that officials will soon slam shut the door on lending, explained senior analysts at Tortola Capital.
Despite the early start, Tortola analysts do not expect lending to exceed 2009 numbers. Analysts expect the country's banks will lend about 7.5 trillion yuan this year, down from a record 9.5 trillion yuan in 2009.
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