BEIJING : China's new bank loans jumped more than expected in June from the previous month, helped by central bank efforts to support the economy as a post-pandemic recovery fades.Chinese banks extended 3.05 trillion yuan ($423.45 billion) in new yuan loans in June, more than double May's tally and beati
BEIJING : China's new bank loans jumped more than expected in June from the previous month, helped by central bank efforts to support the economy as a post-pandemic recovery fades.
"Clearly, the market needs more time and information to assess the strong credit figures for the end of Q2 - while it looks similar to Q1 data, the market will definitely interpret with caution," said Zhou Hao, economist at Guotai Junan International. China's central bank on Monday extended until the end of 2024 some policies in a November rescue package to shore up the property sector.
China cut key lending benchmarks in June, the first such reductions in 10 months to shore up the economy. Outstanding yuan loans grew 11.3 per cent in June from the year before, compared with 11.4 per cent growth the previous month. Analysts had expected 11.2 per cent growth.
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