China's credit expansion slowed in July, M2 money supply slowed for first time in 6 months

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Chinese commercial banks extended new loans at a slower pace in July and the growth of M2 money supply decelerated for the first time since February this year, after the authority signaled a change in policy stance as the economy continues to recover from the coronavirus fallout.

Lenders extended 992.7 billion yuan in new yuan loans in July, sharply down from 1.81 trillion yuan in June and falling short of analysts’ expectations, according to data released by the People’s Bank of China (PBOC) on Tuesday.

Analysts had predicted new yuan loans would . . .

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