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China’s credit growth picks up moderately in May, corporate financing remains weak

China's credit growth picked up moderately in May after the central bank cut banks' reserve requirements and the authorities urged banks to support smaller companies struggling with slowing demand at home and pressure amid a bitter trade war with the US.

Chinese banks extended 1.18 trillion yuan in net new yuan loans in May, up from 1.02 trillion yuan in April, showed data released by the People's Bank of China (PBOC) on Wednesday, but the amount fell short of market expectations.

Outstanding yuan loans grew 13.4 per cent from a year earlier. Analysts had expected . . .

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