Loans to rural areas increased 31.5% y/y in 2010.

By bne IntelliNews February 9, 2011
The loans disbursed in China's rural areas increased 31.5% y/y and totaled CNY 9.8trn by the end of last year. As reported by Xinhua's China Economic Information Service, according to a report released by the country's central bank, the hike in rural lending was 11.9% points higher than that of all lending by financial institutions. Among the loans to rural areas, CNY 2.6trn was held by rural residents, an increase of 29.4% y/y.The increase was 8.3% points lower than total loans to urban residents, largely due to urban residents spending more on buying homes in a rising housing market.

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