The value of new loans issued by Chinese banks in 2010 reached 7.95 trillion yuan ($1.2 trillion), the central bank said Tuesday, exceeding the official target but less than the previous year.
Policymakers had set a full-year target of 7.5 trillion yuan after an explosion of state-sanctioned lending in 2009 fuelled inflation and sent property prices skyrocketing in the world's second-largest economy.
Lending nearly doubled to 9.6 trillion yuan in 2009 as banks heeded the government's urgent call to spur economic activity amid the global financial crisis.
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