Chinese banks stepped up lending in August after a sharp, unexpected decline a month earlier, as analysts said the central bank moved to keep lending steady.
The growth in bank loans and total aggregate credit returned to trend in August, economists said. Chinese financial institutions issued 702.5 billion yuan ($114.6 billion) in new yuan loans in August, up sharply from 385.2 billion yuan in July, data from the People’s Bank of China showed Friday. That was also higher than the 650 billion yuan median forecast of 14 economists polled by The Wall Street Journal earlier.
Total social financing—a broader measurement of credit in the economy—ballooned to 957.4 billion yuan in August, up from 273.1 billion yuan in July.
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Wall Street Journal via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/MQJq5fteW4E/
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