China's "Big 4" to lend $110B in Q1

Chinese regulators have ordered the nation's four biggest banks to cap their combined new loans in the first quarter at US$110 billion.

Industrial and Commercial Bank of China won the nod to lend US$32 billion while Bank of China will be able to lend US$27.3 billion.

China Construction Bank will be able to lend US$29.79 billion while Agricultural Bank of China won the nod to lend US$21 billion.

The big four had granted US$36.4 billion worth of new loans in total in early January 2011.

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