Caixin
May 25, 2022 06:05 AM
FINANCE

China Cranks Up Pressure on Banks to Boost Lending

China’s credit expansion has struggled to pick up this year, even though the central bank has made repeated calls for banks to increase lending.
China’s credit expansion has struggled to pick up this year, even though the central bank has made repeated calls for banks to increase lending.

China’s central bank and banking regulator summoned 24 major banks Monday and told them to increase lending to small businesses, green projects, technology renovation, energy supply and infrastructure.

The authorities cited increasing downward pressure on the economy and called on the financial system to bolster support for the real economy and help stabilize economic fundamentals.

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