china\s new loans drop reinforcing monetary prudency
Last Updated : GMT 04:32:38
Arab Today, arab today
Arab Today, arab today

China\'s new loans drop, reinforcing monetary prudency

Arab Today, arab today

Arab Today, arab today China\'s new loans drop, reinforcing monetary prudency

Beijing - XINHUA

China\'s new yuan-denominated lending dropped to 792.9 billion yuan (127.85 billion U.S. dollars) in April, down from 1.06 trillion yuan in March, the central bank said Friday. The amount marked an increase of 111.1 billion yuan over the same period last year, the People\'s Bank of China said in a statement. New loans in foreign currencies increased by 13.6 billion U.S. dollars last month, with an outstanding account topping 767.9 billion U.S. dollars by the end of April, the figures showed. The country\'s social financing, a measure of funds raised by entities in the real economy, amounted to 1.75 trillion yuan in April, an increase of 783.3 billion yuan from last year. By the end of April, the broad measure of money supply (M2), which covers cash in circulation and all deposits, increased 16.1 percent year on year to 103.26 trillion yuan, the figures showed. The rise was up 0.4 percentage points from the rate recorded in March and 3.3 percentage points higher year on year. Meanwhile, the narrow measure of money supply (M1), which covers cash in circulation plus current corporate deposits, climbed 11.9 percent from a year ago to 30.76 trillion yuan. The growth was 0.1 percentage points higher than the rate recorded in March. The outstanding amount of cash in circulation (M0) reached 5.56 trillion yuan by the end of April, up 10.8 percent from one year earlier. Last month, the net amount of cash put into circulation stood at 14.7 billion yuan. Yuan-denominated deposits decreased by 100.1 billion yuan in April, sending the outstanding account of yuan deposits to 97.83 trillion yuan by the end of last month. \"The decline in new loans is rooted in weak credit demand from enterprises and dropped deposits,\" E Yongjian, a financial analyst with the Bank of Communications, said. \"But the rebound of housing transactions prevented the decline from diving.\" He forecasted that monetary policy will stay prudent for slower economic growth and potential inflation risks considering the easing impact of the H7N9 avian flu virus. China\'s Purchasing Managers\' Index for the manufacturing sector fell to 50.6 percent in April from 50.9 percent in March, with 50 percent demarcating expansion from contraction. E also predicted that the interest rate would stay stable, with little chance of declining, which would cause tension in inflation management and would hardly help cool the rush of capital inflow. Barclays Bank said Friday in a report that China will maintain its current monetary policy and financial environment. The report suggested the interest rate would not see huge change in the world\'s second-largest economy in 2013, but the possibility still remains of an interest cut or a higher limit in the deposit rate. Chang Jian, an analyst with Barclays on the Chinese economy, said the ongoing monetary and financial policies will continue to sustain the domestic and world economy, the latter of which is recovering slower than expected. Mild inflation in food and price declines in global bulk commodities allow a more flexible policy of the central bank, Chang said. With the interest cut fashion sweeping the world, the People\'s Bank of China may also slightly follow the trend to further promote the Chinese yuan\'s convertibility under interest and capital accounts, the analyst added. The bank suggested China curb higher financial risks and asset bubbles with monitoring and regulations on financing products, local financing platforms and shadow banking, as well as proper steering of the real estate market.

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 new loans drop reinforcing monetary prudency china\s new loans drop reinforcing monetary prudency

 



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 new loans drop reinforcing monetary prudency china\s new loans drop reinforcing monetary prudency

 



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