china\s social financing stable despite new yuan lending drops
Last Updated : GMT 04:32:38
Arab Today, arab today
Arab Today, arab today

China\'s social financing stable despite new yuan lending drops

Arab Today, arab today

Arab Today, arab today China\'s social financing stable despite new yuan lending drops

Beijing - XINHUA

China will keep its monetary policy stable throughout the year despite new yuan-denominated lending drops in October, experts said on Monday, as the country\'s overall social financing level remains stable. New yuan-denominated lending in October hit a 13-month low of 505.2 billion yuan (80.32 billion U.S. dollars), dropping 81.6 billion yuan from a year earlier, the People\'s Bank of China (PBOC), the central bank, said Monday. The week-long National Day holiday at the beginning of October contributed to the lending decline, said Zhong Zhengsheng, an analyst from Everbright Securities. It also reflected authorities\' efforts to control credit, as the growth rate in August was faster than expected. The social financing scale in October stood at 1.29 trillion yuan, marking a decline of 360 billion yuan from September, according to PBOC. Lian Ping, chief economist for the Shanghai-based Bank of Communications, said China\'s social financing performance can still be considered satisfactory, as the gross social financing volume in the first ten months of the year increased by 2.42 trillion yuan year on year to hit 13.02 trillion yuan. Lian said social financing could exceed 15 trillion yuan this year, much more than the 12.83 trillion yuan recorded in 2011. Experts believe China is optimizing its financing structure by lowering new yuan-denominated lending while weighing trust loans and corporate bond financing. In October, trust loans amounted to 144.5 billion yuan, an increase of 135.5 billion yuan over the same period last year. Meanwhile, corporate bond financing hit 299.2 billion yuan, up 135.3 billion yuan year on year. In the first ten months, gross corporate bond financing reached 1.86 trillion yuan, higher than 1.37 trillion yuan for the entirety of last year. Yuan-denominated lending accounted for 39.2 percent of total social financing in October, hitting a record low, while corporate bond financing accounted for 23 percent of the monthly total, according to the PBOC. As of the end of October, the broad measure of money supply (M2), which covers cash in circulation and all deposits, rose 14.1 percent from a year earlier to 93.64 trillion yuan. The growth rate was 0.7 percentage points lower than the figure for September. The government will continue to implement a proactive fiscal policy and prudent monetary policy, effectively carrying out structural tax reductions and maintaining an appropriate money supply, experts said. Experts believe the central government will keep its monetary policy stable, as social financing is high enough to support economic expansion and possible inflationary pressure.

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\s social financing stable despite new yuan lending drops china\s social financing stable despite new yuan lending drops

 



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\s social financing stable despite new yuan lending drops china\s social financing stable despite new yuan lending drops

 



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 Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
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 Ayten Amer happy for “The Flood” success

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success
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 08:21 2017 Tuesday ,14 November

Nelly Karim focuses on humanitarian roles

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