China's new bank loans during the first two weeks of January have already exceeded RMB 1.1 trillion ($161.11 billion), with the four state-owned banks accounting for more than RMB 500 billion of the total ($73.23 billion).
In the first half of January, new loans issued by the Industrial and Commercial Bank of China (ICBC), the Bank of China, the Agricultural Bank of China and China Construction Bank totaled around RMB 160 billion ($23.43 billion), RMB 170 billion ($24.9 billion), RMB 100 billion ($14.65 billion) and RMB 60 billion ($8.79 billion) respectively. Moreover, certain banks are said to have already reached 50 percent of their loan target for the whole year of 2010.