China’s credit growth slowed sharply in April, new bank loans tumbled 80% from previous month, as coronavirus lockdowns dampened credit demand

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China's credit growth slowed sharply in April, with new bank loans plummeting 80% from the previous month, as the coronavirus pandemic dampened credit demand, even as the authority vowed to step up policy support to curb a slowdown.

Chinese banks extended 645.4 billion yuan ($95.3 billion) in new yuan loans in April, slumping nearly 80% from 3.125 trillion yuan in March and sharply lower than 1.47 trillion yuan in the . . .