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China’s credit growth slowed in December due to significantly lower corporate bond issuance and shrinking shadow banking. New bank loans decreased in December, but lending in the full year of 2020 hit a new record.
Chinese banks extended 1.26 trillion yuan new loans in December, compared the 1.43 trillion yuan in the previous month, according to data released by the People's Bank of China on Tuesday. That's 117 billion yuan higher than a year earlier.
Banks granted 595.3 billion yuan new loans to the corporate sector in December, 170 . . .
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