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Top Four Lender Chilled by Loans, Deposits China's biggest four state-backed banks extended just ¥34billion in loans in the first three weeks of May, when depositswith them shrank ¥270 billion, a person with knowledge of theissue told the 21st Century Business Herald. The four lendersusually account for 30% of total credit in the country. Bank loansacross the nation fell from over ¥1 trillion in March to¥681 billion in April, according to central bank figures. World Bank Cuts China Growth Forecast The World Bank revised down its forecast for China's economicgrowth this year by a fifth percentage point to 8.2%, citing slackdemand from Europe and the US and cooling domestic real estatemarket. Morgan Stanley yesterday cuts its forecast for China'seconomic growth by half a percentage point to 8.5% after Aprileconomic data turned out much weaker than expected Credit Cards Pay ¥2.8t in Q1 The value of transactions paid by credit cards in China rose 33.2%year on year and 7.1% quarter on quarter to ¥2.79 trillion inQ1 2012, a central bank report has found. There were 3.1 billionbank cards in circulation in the country as of the end of March, up5.2% from a quarter earlier and up 21.5% from a year earlier, thereport added. China's Spending on Business Travel Tops $182b Chinese spending on business trips was worth $182 billion in 2011,second just to the US, according to the Global Business TravelAssociation. It is predicted that amount for China would total $202billion this year and $245 billion next year. Private Investment Active in Clean Energy Private investment in China's alternative and renewable energysector has exceeded ¥800 billion, and the capacity of cleanenergy-generated, privately-funded electricity has added up to 49million kW, or 18% of the nation's total capacity powered byalternative and renewable energy, the National EnergyAdministration said. Small Firms Allowed to Sell Bonds China's two stock exchanges moved to allow small firms to sellbonds via private placement, opening another fundraising avenue forthe country's cash-strapped small-business sector, the Wall StreetJournal reported. Small, private businesses in China have beenfacing a credit squeeze, caught between previous tight monetarypolicies and falling global demand for their products. Banks, whichalready favored large, state-owned clients, became increasinglyreluctant to extend loans to smaller enterprises, while gray marketlending rates surged. $1 = ¥6.33. We are high quality suppliers, our products such as China Bed Guard Rails , Baby Bed Rails for oversee buyer. To know more, please visits Baby Bed Rails.
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