New loans made by Chinese banks fell to less than 700 billion yuan (US$106 billion) in February, lower than the same period of last year, following tightening measures taken by the government, China Business News reports.

China's big four banks handed out about 218 billion yuan in loans in February, accounting for between 35 and 45 percent of total bank loans. The Industrial and Commerce Bank of China, Bank of China, China Construction Bank and Agricultural Bank of China extended 56 billion yuan, 47 billion yuan, 45 billion yuan and 69.8 billion yuan respectively, all below last year's level.

China's business press carried the story above on Thursday. China.org.cn has not checked the stories and does not vouch for their accuracy.

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