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China's overall credit surged in January, with new bank loans hitting an all-time high, as the government steps up efforts to boost an economy hit by trade wars and facing more pressure from a coronavirus epidemic.
Banks extended a record 3.34 trillion yuan ($476.42 billion) in new yuan loans in January, up from 1.14 trillion yuan in December and beating analyst expectations, according to data released by the People’s Bank of China (PBOC) on Thursday.
Analysts had predicted new yuan loans would rise to 3.00 trillion yuan in . . .
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