China's new bank loans hit new record in first quarter, overall credit growth slowed

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China's new bank loans increased more than expected in March driven by strong corporate and household financing demand which brought first-quarter lending to a record high, as the central bank kept an accommodative policy stance to support the economy.

Chinese banks extended 2.73 trillion yuan ($416.62 billion) in new yuan loans in March, rising from 1.36 trillion yuan in February and exceeding analyst expectations of 2.45 trillion yuan, according to data released by the People's Bank of China (PBOC) on Monday.

That pushed bank lending in the first . . .

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