Apr 12, 2022 04:20 AM

FINANCE

China’s Credit Growth Rebounds Faster Than Expected in March

By Wang Shiyu and Denise Jia

The moderate increase in medium and long-term household loans signals lackluster home sales.

The moderate increase in medium and long-term household loans signals lackluster home sales.

China’s credit expanded faster than expected in March as Beijing turned to monetary easing to boost a sluggish economy amid a resurgence of Covid-19 outbreaks.

Banks extended 3.13 trillion yuan ($491.4 billion) of new yuan loans in March, up 154% from February’s 1.23 trillion yuan and higher than the 2.72 trillion yuan projected by economists polled by Caixin, according to data released Monday by the People’s Bank of China.

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