Chinese lending hits all-time high in January

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China’s broad measure of credit surged to an all-time high in January, as the central bank’s monetary easing policies began to work, economists say.

New yuan loans rose to 3.23 trillion yuan ($477 billion) in January, while total social financing – a more broadly defined measure of credit – jumped to 4.64 trillion yuan, the People’s Bank of China said on February 15.

This means outstanding total social financing stood at 205 trillion yuan at the end of January, or roughly 240% of China’s GDP.

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