THE Bank of China expected to grow its loan business by a double-digit rate this year, its Chairman Xiao Gang said yesterday.

But the growth will be less than that of last year, which stood between 13 percent and 14 percent, Xiao said.

The bank set its target for this year's total yuan loans at about 600 billion yuan (US$91 billion). Loans to high energy consumption, high pollution and resource-based industries will be strictly controlled, he said.