china bank lending money supply grew in june
Last Updated : GMT 22:50:36
Arab Today, arab today
Arab Today, arab today

China bank lending, money supply grew in June

Arab Today, arab today

Arab Today, arab today China bank lending, money supply grew in June

China's economy expanded
Beijing - AFP

China's bank lending rose in June and the broader money supply also increased, the central bank said Tuesday, as monetary easing measures to boost the world's second-largest economy kick in.

Domestic banks extended new loans of 1.27 trillion yuan ($204.5 billion), up from 900.8 billion yuan in May, the People's Bank of China (PBoC) said in a statement.

Total social financing -- a broader measure of credit in the economy -- reached 1.86 trillion yuan last month, it said, up from 1.22 trillion yuan in May.

Social financing, also known as aggregate financing, exceeded the median forecast of 1.4 trillion yuan in a survey of economists by Bloomberg News.

China's central bank has cut interest rates four times since November and also lowered the amount of cash banks must keep in reserve to help pump up slowing economic growth.
The increase in bank lending was "above market expectations due to recent monetary easing measures", ANZ economist Liu Li-Gang wrote in an analysis of the figures.

China's economy expanded 7.0 percent year-on-year in the first quarter, slumping to a post-global financial crisis low, despite Beijing taking policy steps to bolster growth.

Gross domestic product (GDP) expanded 7.4 percent in 2014, the slowest pace in 24 years, and the government has cut the annual growth target for 2015 to "approximately" seven percent.

The government announces second-quarter GDP figures on Wednesday, with the median forecast in an AFP poll of 14 economists predicting expansion of 6.9 percent in the period.

For all of 2015, the AFP survey predicts growth at a median 7.0 percent, more optimistic than a forecast of 6.8 percent in a similar poll in April and in line with the government's official target.

The PBoC also said that China's foreign exchange reserves, the world's largest, stood at $3.69 trillion at the end of the second quarter in June, down from $3.73 trillion at the end of the first three months of the year, marking the fourth straight quarterly decline.

The fall "was consistent with the strong" Chinese yuan in the second quarter, Liu wrote, citing US dollar sales by the central bank to keep the Chinese currency "stable at around 6.20 per dollar".

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china bank lending money supply grew in june china bank lending money supply grew in june

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

china bank lending money supply grew in june china bank lending money supply grew in june

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Presenter Sherine Ramahi proud of her career

GMT 06:46 2017 Sunday ,19 November

Presenter Sherine Ramahi proud of her career
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday