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ECONOMY

May Total Social Financing Growth Slowest in 22 Months

China’s May total social financing growth slowed to the lowest level since July 2016. Photo: VCG
China’s May total social financing growth slowed to the lowest level since July 2016. Photo: VCG

China’s total social financing growth dropped in May to the lowest in 22 months, reflecting a regulatory clampdown on off-balance sheet shadow loans to rein in financial risks.

Analysts attributed the sharp drop in the broad measure of credit and liquidity in the economy to the continuous control of non-standard credit business and the slowdown in infrastructure investments.

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