Caixin
Aug 14, 2018 02:08 AM
FINANCE

China Posts Stronger New Loan Growth Amid Policy Push

Chinese banks extended more loans in July as regulators encourage credit support to the economy. Photo: VCG
Chinese banks extended more loans in July as regulators encourage credit support to the economy. Photo: VCG

Chinese banks are picking up the pace of lending as regulators push to pump more cash into an economy rattled by slowing growth and the intensifying trade war with the U.S.

In July banks made 1.45 trillion yuan ($211.7 billion) in net new yuan loans, an increase of 627.8 billion yuan, or 76%, from July a year ago, data from the central bank showed. Outstanding yuan loans totaled 130.6 trillion yuan by the end of July, up 13.2% from a year ago.

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