new Credit distributed in China until January 29 to reach 1.6 trillion yuan (U.S. $ 234 billion).

The report, written by the Economic Information Daily said Industrial & Commercial Bank of China Ltd. distributed more than 170 billion yuan, up by January 29. The news was cited by Xinhua News Agency without naming its source.

Bank of China Ltd. to distribute credit more than 160 billion yuan, Agricultural Bank of China about 150 billion yuan, and China Construction Bank Corp., nearly 108 billion yuan.

The newspaper also said the Bank of China credit target this year to 600 billion yuan and China Construction Bank lending rate hit 750 billion yuan.