Banks in China have reportedly lent more than 1 trillion yuan (US$152 billion) in new loans so far this month, pushing authorities to tighten credit.

Even as banks tend to issue more loans early in the year they're also running out of quota, the 21st Century Business Herald reported yesterday, citing unnamed sources.

Premier Wen Jiabao reiterated on Tuesday that a reasonable pace of financing should be sustained to avoid irregular lending at the beginning of the year.

Banks in China extended 7.95 trillion yuan of new loans in 2010, more than the 7.5 trillion target.