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New loans to banks in China exceed expectations in April

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rocky
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New loans to banks in China exceed expectations in April

Post by rocky on Fri 11 May 2018, 7:39 am

New loans to banks in China exceed expectations in April






2018/05/11 13:32


(Encyclopedia of this Day News | Iraq News ) - Direct: New bank loans rose in China over the past month , more than analysts ' expectations, also increased money supply exceeding estimates in the same period.

Chinese banks borrowed 1.18 trillion yuan (186.4 billion dollars) in April from 1.1 trillion yuan in March, according to data released by the People's Bank of China on Friday.

Analysts had forecast banks would borrow 1.12 trillion yuan in April.

In the first four months of this year, banks borrowed 6.04 trillion yuan, up 13.5 percent from the same period in 2017.

In 2017, Chinese banks borrowed 13.53 trillion yuan, up 7 percent from their level in 2016.

As for corporate loans, it also saw an increase of 572.6 billion yuan last month from 565.3 billion yuan in March.

In terms of money supply, the People's Bank of China showed it rose by 8.3% in April from 8.2% in March.

With expectations that it will grow by 8.5%.

By 1020 GMT, the yuan was up 0.2 percent at 6.3338 yuan.


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