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China June new bank loans, broad credit growth surge past expectations
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China June new bank loans, broad credit growth
surge past expectations

 

file-photo--chinese-100-yuan-banknotes-a

 

China's new bank loans rose more than สล็อต ออนไลน์ expected in June from
the previous month, while broad credit growth also picked up substantially,
as the central bank seeks to shore up slowing growth in the world's second biggest
economy.

 

Chinese banks extended 2.12 trillion yuan (US$327 billion) in new yuan loans
in June, up from 1.5 trillion yuan the previous month, data from the People's Bank
of China showed on Friday.

 

Analysts polled by Reuters had predicted new yuan loans would rise to 1.8 trillion
yuan in June.

 

The Chinese economy has largely rebounded to its pre-pandemic growth levels,
driven by the surprisingly resilient export sector. However, smaller firms are
bearing the brunt of the recent surge in raw material prices, as they struggle
to pass on increased costs to consumers.

 

To help small firms coping with rising costs, the PBOC on Friday also announced
a new cut in the amount of cash that banks must hold as reserves,
the first such move since April last year when the economy was still badly
affected by the coronavirus crisis.

 

Loans to households rose to 868.5 billion yuan in June from 623.2 billion yuan
in May, while corporate loans surged to 1.46 trillion yuan from 805.7 billion
yuan in May.

 

In June, total social financing (TSF), a broad measure of credit and liquidity
in the economy, rose to 3.67 trillion yuan from 1.92 trillion yuan in May and
substantially higher than analysts' forecasts of 2.87 trillion yuan.



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