China's central bank says, the pace of Chinese bank lending slowed. Figures from the People's Bank of China show, in March, new lending slowed to 510 billion yuan. This is well below forecasts of a 750 billion yuan rise. February's number totaled nearly 700 billion yuan.
Analysts say, the slowdown marks an initial victory by the country in its campaign to stop its economy from bubbling over. The PBOC also stressed its intention to enforce a lower loan quota in 2010 of 7.5 trillion yuan, down from a record of 9.6 trillion last year. Figures also show, lending in the first quarter is at 35 percent of the full year target.