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UPDATE- China’s credit growth picks sharply in March

China's credit growth picked up sharply in March after a plunge in February, as policymakers push lenders to support struggling smaller companies and shore up the slowing economy.

Chinese banks extended 1.69 trillion yuan in new yuan loans in March, surging from 885.8 billion yuan  from February and well above the 1.2 trillion yuan expected by the market.

That brings total bank lending in the first three months of 2019 to a record quarterly tally of 5.81 trillion yuan, suggesting months of policy loosening by the central bank are starting to bear fruit.

Bills financing . . .

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