China’s four biggest banks have extended some 320 billion yuan in the first month this year, compared with a target of about 340 billion, the China Securities Journal reported, quoting banks’ data.

The full year new loans for Chinese lenders are expected at around 800 billion yuan, the report said.

Industrial & Commercial Bank of China Ltd. has set its new yuan loans target for 2012 at around 850 billion yuan; China Construction Bank Corp. at around 750 billion yuan; Agricultural Bank of China Ltd. at around 650 billion yuan; and Bank of China Ltd. at around 600 billion yuan, according to earlier reports.

The new loans are required to be extended at a quarterly ratio of 3:3:2:2, the report said.