Chinese banks boost lending, official figures show
Overall credit supply grows year-on-year but is outpaced by increase in bank lending
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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