New yuan loans up in November

Figures from the central bank show 294.8 billion yuan in new loans being extended in November. That's compared to 253 billion yuan for October. And that brings the total for the first eleven months to 9.21 trillion yuan, far in excess of the government's initial target of 5 trillion yuan.

The first half of the year saw a continued rise of new loans. But since the second half, the rate of loan expansion has eased, sparking fears of a premature end to moderately loose monetary policies. To quell these fears, the central bank has reiterated its intention to stick to a moderately easy monetary policy in the year ahead.

Meanwhile, the banking watchdog has stressed that it's ready to deal with any consequent risks, such as a rise in non-performing loans. It has also set the upper limit for next year's new loans at 8 trillion yuan.