Chinese banks boost lending, official figures show

At the end of July, the annual growth of broad credit and liquidity slipped to 1.04 trillion yuan.

Chinese banks have increased their supply of credit to the economy year-on-year, official figures show.

In July, new loans from banks rose to 1.45 trillion yuan ($210.5 billion), according to the data published by the People’s Bank of China on Monday (August 14). This figure was 75.7% or 627.8 billion yuan higher than the same period last year

The loan growth followed a recent initiative by the PBoC to boost bank lending to the real economy by providing the lenders massive amounts of cheaper

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