China's Big Four banks extended RMB 557.2 billion worth of new RMB loans from Jan. 1 to Jan. 21, the China Business News reported, citing an industry source.

Bank of China<601988><3988>, the nation's third-largest lender, extended RMB 175.7 billion of loans in total. China Construction Bank Corp<601939><0939>, Industrial and Commercial Bank of China<601398><1398> and Agricultural Bank of China Ltd extended RMB 80.3 billion, RMB 149.4 billion and RMB 151.8 billion, respectively.

The four banks reduced new loans in November after October's new lending dropped to the lowest level of last year. Their combined new loans in November dropped slightly from October to RMB 100 billion.