At the end of 2002, outstanding loans by all financial institutions in the province amounted to 515.876 billion yuan (US$62.15 billion), a year-on-year increase of 14.07 percent.

The growth rate was 3.14 percentage points higher than that of the previous year and a record high for annual growth rates since 1999, according to officials with the People's Bank of China (PBOC) Chengdu Branch.

The institutions provided new loans of 64.321 billion yuan (US$7.75 billion) in 2002, an increment of 22.866 billion yuan (US$2.75 billion) over the previous year, the central bank officials added.

In 2002, the demand for credit was basically satisfied, and the credit structure in Sichuan was optimized to a further extent.

According to the latest survey conducted by the PBOC's Chengdu Branch, 72.65 percent of the 245 corporate respondents considered banks' credit extension "loose or moderate", up 8.08 percentage points year-on-year.

Meanwhile, last year also witnessed an increase in loans extended to farmers, consumers, infrastructure projects and the private sector.

(Xinhua News Agency January 20, 2003)