China's new bank loans to manufacturers in first seven months more than doubled full-year amount in 2019 - regulator

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Chinese banking sector extended more loans to the manufacturing sector in the first seven months this year than they did in the full year of 2019, in response to government call to step up funding support to manufacturers to shore up the virus-hit economy.

During the first seven months of this year, banking institutions extended a total of 1.6 trillion yuan in new loans to the manufacturing sector, of which 60 per cent were loans to high-tech manufacturers, Xiao Yuanqi, chief risk officer of the China Banking and Insurance Regulatory Commission (CBIRC), said on . . .

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