China Construction Bank to pare down loan scale

The lender follows move of other Chinese banks due to expected tighter loan policy in 2011.

China Construction Bank (CCB) will cut its loan scale in 2011, reports southcn.com, citing Zhu Xiaohuang, vice president of CCB.

Due to the expectation of a tighter loan policy next year, several commercial banks announced they would lower their loan scales for 2011.

China CITIC Bank predicted a loan scale of 130 billion yuan for this year, while the scale for 2011 will slightly decrease or stay the same as this year’s.

According to Professor Guo Tianyong from the Central University of Finance and Economics, the loan scale for next year will total 6.5 trillion yuan.

View the full story in Capital Vue.