China's economy on the up: central banker

Record lending by commercial banks and improved liquidity in the first quarter of 2009 suggests end-2008 marked a turning point in China's economic fortunes, said Yi Gang, deputy governor of the People's Bank of China.

Preliminary figures suggest Chinese banks lent Rmb4.58 trillion ($671 billion) more in the first quarter of 2009 than in the first quarter of 2008, easing liquidity concerns and enabling small and medium sized companies to have easier access to capital.

Yi said there were other s