2024-03-16 00:44:59
The volume of new bank lending in national currency in China fell to 1.45 trillion yuan ($201.5 billion) in February, according to a report by the People’s Bank of China, Day.Az reports with reference to Interfax.
In January, the figure was 4.92 trillion yuan – this is the maximum level for the entire period of maintaining relevant statistics, that is, since 2004.
Analysts on average predicted a decline to 1.5 trillion yuan, Trading Economics reports.
Total new financing (including bank loans, off-balance sheet loans and stock and bond offerings) fell to 1.56 trillion yuan last month from 6.5 trillion yuan in January, also a record. Experts expected the figure to be 2.22 trillion yuan.
The M2 money supply (cash and all deposits) grew by 8.7% in annual terms, compared with an expected rise of 8.8%.
The total volume of outstanding bank loans in Chinese national currency increased by 10.1% at the end of February. Analysts had predicted growth of 10.2%.
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