China’s May new bank loans nearly triple on month, credit expansion beat expectations, most new corporate loans were bill financing

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China's new bank loan and the board credit expansion picked up to beat expectations in May as the authorities stepped up policy support to pull the world's second-largest economy out of a COVID-induced slump.

Chinese banks extended 1.89 trillion yuan ($282.62 billion) in new yuan loans in May, nearly tripling the 645.4 billion yuan in April, showed data released by the People's Bank of China (PBOC) on . . .

 

 

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