Chongqing in SW China reports rises in balances of bank deposits, loans

Financial institutions in southwest China's Chongqing Municipality reported double-digit rises in the balances of bank deposits and loans in 2005, the local statistical bureau said.

At the end of 2005, the balance of savings in local and foreign currencies at Chongqing's financial institutions totaled 478.5 billion yuan (60 billion U.S. dollars), while the balance of loans in Chinese and foreign currencies stood at 378 billion yuan (47.25 billion U.S. dollars), up 16.3 percent and 16.1 percent, respectively, over the previous year.

The bank deposits by urban and rural residents stood at 254.6 billion yuan (31.8 billion U.S. dollars) at the end of 2005, up 16.3 percent year-on-year.

Source: Xinhua