Chinese banks issued 603.4 billion yuan (US$89.1 billion) in new loans in June, down from May, the central bank said yesterday, as Beijing works to gradually works to cool the economy.
Bank lending in May had reached 639.4 billion yuan, but the government has rolled out a series of measures to restrain the supply of credit for fear of an asset bubble in the booming economy.
The figures meant lending for the first half of the year reached 62 percent of the government's annual target, indicating credit growth will likely slow in the coming months, Dow Jones Newswires reported.
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