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China's second biggest commercial bank, the Bank of China, said its credit supply slowed down in May in response to the government's effort to tighten money supply to selected sectors.
The bank said its loans to five overheated sectors dropped by 46 percent in May, but it did not specify the sectors and related figures.
The bank's total outstanding loans denominated in Renminbi, the Chinese currency, reached 1.4624 trillion yuan, about US$178.3 billion, by the end of May, a reduction of US$6 billion in increased credit loans year-on-year.
Meanwhile, its outstanding deposits increased by US$3.8 billion year-on-year.
(CRI.com June 28, 2004)
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