China’s bank lending weakened in July, suggesting Beijing’s stimulus efforts not working

//China’s bank lending weakened in July, suggesting Beijing’s stimulus efforts not working

China’s bank lending weakened in July, suggesting Beijing’s stimulus efforts not working

Chinese monetary data for July was weak across the board, suggesting that Beijing’s efforts to galvanise new lending are not having the intended effect.Chinese banks extended 1.06 trillion yuan (US$150.17 billion) in net new loans last month, down from 1.66 trillion yuan (US$235.17 billion) in June, according to the data released by the People’s Bank of China on Monday.July’s lending was well below the 1.25 trillion added bank credit predicted by a Bloomberg survey of economists, and was the…

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By | 2019-08-12T12:34:11+00:00 August 12th, 2019|Business|Comments Off on China’s bank lending weakened in July, suggesting Beijing’s stimulus efforts not working