China’s New Loans, Aggregate Financing Plunge
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China’s new yuan loans and total social financing (TSF) fell sharply in August, undershooting market expectations as demand for traditional bank credit weakened, particularly among households and capital-intensive sectors.
New yuan loans totaled just 60 billion yuan ($8.9 billion), official data showed Monday, down 530 billion yuan from a year earlier and well below the 382 billion yuan average forecast in a Caixin survey of 14 institutions.
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