'Big Four' banks slow loan growth in February

China’s big four commercial lenders extended US$44 billion worth of loans in February, down from the US$70 billion issued the previous month, the South China Morning Post reported. Bank of China, Industrial and Commercial Bank of China, China Construction Bank and Agricultural Bank of China are likely to continue to slow the rate of new loan issues as the government tightens monetary policy to avoid inflation. Chinese banks extended an aggregate US$200 billion in January, about 20% of the banking regulator’s full-year target of US$1 trillion.