Arab Today, arab today china bank lending slows further in october
Last Updated : GMT 21:17:01
Arab Today, arab today
Arab Today, arab today

China bank lending slows further in October

Arab Today, arab today

Arab Today, arab today China bank lending slows further in October

Beijing - AFP

Chinese banks lent less money for a second straight month in October, data showed Monday, as the country\'s banking regulator acknowledged that bad loans have spiked this year. The lenders gave out 505.2 billion yuan ($81 billion) last month, the People\'s Bank of China said in a statement, down from 623.2 billion yuan in September and 703.9 billion yuan in August. The figure was lower than analysts\' expectations of 590 billion yuan, according to a median forecast of 11 economists surveyed by Dow Jones Newswires. China has been encouraging bank lending to bolster economic growth, which has slowed for seven straight quarters and hit a more than three-year low of 7.4 percent in the third quarter hurt by weak demand overseas and at home. Policymakers have cut interest rates twice this year and trimmed the amount of cash banks must place in reserve three times since December as they try to pump up growth. Economic data for October has fuelled optimism that the slowdown has bottomed out, but concerns are also rising over a surge in bad loans in the banking system. Shang Fulin, chairman of the China Banking Regulatory Commission, told a news conference Sunday that non-performing loans had risen since the start of the year. He cited \"changes in business operations in some sectors\", without elaborating, but emphasised that risks are controllable. \"The CBRC will try to urge the commercial banks to improve their risk management,\" he said on the sidelines of the Communist Party\'s 18th Congress that is set to anoint new leaders for the next 10 years. \"For the non-performing loans, we will monitor the real time situation to expose and deal with possible risks and potential dangers in a timely manner and we will also ensure that we have enough provisions to cover the risks.\" Analysts have said that the weak bank lending figures do not reflect the country\'s true lending situation, which includes other forms of credit. A report issued by Fitch Ratings last week argued that broad credit, which includes shadow and offshore sources omitted from the central bank\'s lending data, was on track to exceed one-third of the national economy this year. \"Rising leverage either will swamp borrowers\' ability to repay, or banks\' funding and capital needs will fall short of existing resources,\" Charlene Chu, a Beijing-based analyst with Fitch, warned in the report.  

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*

Arab Today, arab today china bank lending slows further in october Arab Today, arab today china bank lending slows further in october

 



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*

Arab Today, arab today china bank lending slows further in october Arab Today, arab today china bank lending slows further in october

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Malaysia Airlines picks new CEO

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
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 EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 09:56 2017 Friday ,20 October

Privacy Groups Warn of Perils

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
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