Arab Today, arab today chinas new yuan loans surge in july
Last Updated : GMT 07:21:54
Arab Today, arab today
Arab Today, arab today

China's new yuan loans surge in July

Arab Today, arab today

Arab Today, arab today China's new yuan loans surge in July

china yuan
Beijing - XINHUA

China's new yuan-denominated lending rose sharply in July, new data showed, due to the central bank's monetary easing and the government's continuing pro-growth measures.

New yuan loans hit 1.48 trillion yuan (241.8 billion U.S. dollars) last month, up 1.61 trillion yuan from a year earlier, according to data released by the People's Bank of China (PBOC) on Tuesday.

The increase was beyond market expectations and is mainly attributed to monetary easing, including interest rate cuts, and official policies to prop up the real economy.

Repeated easing measures in the first half of the year ensured abundant liquidity in the market, the PBOC said in a statement.

Lower bank deposit reserve ratios led to sufficient money supply and prompted lenders to make loans, while rate cuts made cheaper funding available and stimulated credit demand, the statement said.

The central bank has cut both the reserve requirement ratio and interest rates three times since the beginning of this year.

An eased monetary market could be indicated by accelerating M2 growth. M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 13.3 percent year on year at the end of July, up from May's 10.8 percent and June's 11.8 percent.

The loans were also boosted by measures that aimed to prop up growth. In the first 7 months, new yuan loans amounted to 8.04 trillion yuan, up 2.15 trillion yuan from a year ago.

The PBOC said warming investment in the real economy has driven up working capital loans and a recovering property sector triggered improved housing mortgages.

Given falling exports weighed on by slack external demand, the moderate credit growth will be boon for the real economy, especially the improvement of domestic demand, the PBOC said.

The PBOC admitted recent government stock market bailouts also exerted influence on credit growth, but expect the impacts from those provisional rescue measures will gradually recede after the capital market stabilizes.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 6.6 percent year on year to 35.31 trillion yuan at the end of last month.

However, China's total social financing (TSF), a measure of funds to non-financial firms and households from the financial system, remained relatively moderate.

The TSF stood at 718.8 billion yuan in July, down 1.11 trillion yuan month on month but up 532.7 billion yuan from a year ago.

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 chinas new yuan loans surge in july Arab Today, arab today chinas new yuan loans surge in july

 



Arab Today, arab today

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 chinas new yuan loans surge in july Arab Today, arab today chinas new yuan loans surge in july

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
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