Chinese banks have fastened their pace in extending new loans in the fresh year, on track to exceed 1 trillion yuan in January, a scenario that has been seen in the years from 2009 to 2011.

The biggest four state-owned banks in the country, known as "big four", had already extended more than 395 billion yuan in new loans in the month ending January 27, according to the 21st Century Business Herald, citing authorities from the lenders. That compares with a 320 billion yuan worth of lending by the four banks in January 2012.

There are impulses for banks to expand their credit rapidly amid a huge demand for capital after the National Development and Reform fast tracked a string of projects in the second half of 2012 with a total combined value of 7 trillion yuan, Caijing learned.

The "big four" banks, usually account for 30 percent of new yuan loans issued by China's whole banking system, are planning to extend a total of 3 trillion in 2013, with growth rates averaging between 10-12 percent, our reporters learned.

Bank branches are seeking higher credit quotas to use at their discretion this year from the previous, the 21st CBH said, citing one executive in the banks. Most of the January new loans were issued in the last three days (January 25-27) in his bank, the source said.

Similar credit sprints occurred in the first months of 2009-2011, accompanied by occasional "window guidance" by regulatory officials in the cat-and-mouse game.

There were also rumors that lending in some banks were called to a half when the big four banks poured a combined 270 billion yuan in new loans in the first two weeks in January. The news was not confirmed though.

This year will see "unexpectedly loose liquidity" compared with the same period of last year when declines dropped sharply in a tight capital market, the paper said quoting an executive of a shareholding bank.

Shareholding banks have also seen improvements in their savings since the last few days of January, exacerbating the credit scramble, it said.