中國銀行業業務不均衡 1月份貸款猛增
Chinese bank lending posted a higher-than-expected jump in January, as Beijing tries to balance slowing economic growth with worries about mounting debt problems.
1月份中國銀行業貸款增長超過預期；面對國內經濟增速放緩以及針對國內債務問題越積越多的擔憂，中國政府試圖在這兩者之間找到平衡。Banks in China usually front-load their lending at the beginning of the year, so large increases are common. Still, the stronger-than-expected data released by the People's Bank of China Saturday suggests government concerns about credit expansion aren't tamping down borrowing.
中國銀行業通常在一年起始時集中放貸，因此年初貸款大幅增加的情況很常見。但是中國央行週六發佈的超過預期的貸款數據表明，雖然政府擔心信貸增長，但是這並未降低貸款規模。Chinese financial institutions issued 1.32 trillion yuan ($217.8 billion) worth of new yuan loans in January, up sharply from 482.5 billion yuan in December and also bigger than 1.07 trillion yuan new loans recorded in January last year, according to the central bank.
中國央行公佈的數據顯示，中國金融機構1月份新增人民幣貸款1.32萬億元（約合2,178億美元），大幅高於去年12月份的人民幣4,825億元，也高於去年同期的1.07萬億元。
Newly extended loans in January were higher than the 1.1 trillion yuan forecast by 11 economists polled by The Wall Street Journal.
此前接受《華爾街日報》(The Wall Street Journal)調查的11位經濟學家預計，中國1月份新增人民幣貸款1.1萬億元。Total social financing, a broader measurement of credit in the economy, rose to 2.58 trillion yuan in January from 1.23 trillion yuan in December. That was also higher than 2.54 trillion yuan recorded in January 2013.
1月份社會融資規模爲人民幣2.58萬億元，高於去年12月份的1.23萬億元，也高於去年同期的2.54萬億元。Bank of China Ltd. said the figures indicate strength in the country's economy despite signs of weakness from the results of recent purchasing manufacturers' indexes and other data points.
中國銀行股份有限公司(Bank Of China Ltd. ,, 簡稱：中國銀行)表示，雖然最近公佈的採購經理人指數(PMI)和其他數據顯示經濟出現疲軟跡象，但是上述貸款數據表明中國經濟表現強勁。'The higher-than-expected new loans showed the traditional pattern by Chinese banks to make more loans at the beginning of the year. But the data also indicated that the real demand from the economy is still robust, though manufacturing PMI pointed to another direction,' said HSBC economist Ma Xiaoping.
匯豐控股(HSBC)經濟學家馬曉萍(Ma Xiaoping)說，超出預期的新增人民幣貸款規模顯示出中國銀行業在年初擴大放貸規模的傳統做法。但是該數據也表明經濟的實際資金需求依舊旺盛，這與製造業PMI所顯示的情況截然相反。Economists are trying to sort mixed signals about the world's No. 2 economy. China reported a higher-than-expected 10.6% rise in exports in January, despite signs from other major exporting Asian nations that demand growth remains modest.
經濟學家們試圖將有關中國經濟的各種喜憂參半的信號進行分類。中國之前公佈1月份出口額增長10.6%，增幅高於預期，但其他主要亞洲出口國家傳出的信號是需求增長依然緩慢。The early part of the year is subject to distortions because of China's Lunar New Year holiday, which begins at different times in January and February depending on the year.
今年年初的數據可能因春節假期而被扭曲。每年的春節不是在1月份就是在2月份。Ms. Ma said the trade data reflected that external and internal demand were strong, which spurred demand of credit in January.
馬曉萍說，貿易數據反映出國內外需求依然強勁，這刺激了1月份的信貸需求。Beijing has been trying to strike a balance between reining in credit expansion, which poses increasing financial risks, with supporting economic growth. Analysts predicted that monetary policy for 2014 may be tighter than a year earlier as the country tries to rein in expansion of its shadow banking sector, which they say poses increasing risks as economic growth slows.
中國政府一直試圖在控制信貸增長和推動經濟增長之間實現平衡。信貸擴張使金融風險加大。鑑於中國正試圖控制國內影子銀行業的發展勢頭，分析師們預計，2014年中國的貨幣政策可能較之前一年偏緊。分析師指出，隨着國內經濟增速放緩，影子銀行業的擴張帶來了更大風險。'Looking ahead, we expect monetary conditions to remain tight given that the central bank has made clear that it is still not comfortable with the pace of credit growth,' said Mark Williams, chief Asia economist for Capital Economics, in a report.
凱投宏觀(Capital Economics)首席亞洲經濟學家威廉姆斯(Mark Williams)在一份報告中稱，鑑於中國央行已明確表示仍對當前的信貸增長步伐不滿意，預計中國未來的貨幣環境將依然偏緊。China's broadest measure of money supply, M2, was up 13.2% at the end of January, compared with a year earlier, lower than the 13.6% rise at the end of December, official data showed.
官方數據顯示，1月末中國廣義貨幣供應量M2同比增長13.2%，但增幅低於去年12月末的13.6%。The figure was in line with the median 13.2% increase forecast by the polled economists.
此前接受調查的經濟學家給出的預期中值是，1月末M2同比增長13.2%。
