Major Chinese State Banks Loan $1.32 Billion to Bolster Economy

What’s new: China’s six largest banks issued a combined 9.53 trillion yuan ($1.32 trillion) in loans in the first nine months of 2022, more than half of the total of yuan-dominated loans extended by Chinese banks during the period, data released by the banks showed.

The country’s six major state banks — Industrial and Commercial Bank of China (ICBC), Bank of China, China Construction Bank, Bank of Communications, Agricultural Bank of China and the Postal Savings Bank of China — issued statements Sunday pledging further financing support to the economy while releasing their latest loan figures.