China's credit growth slowed sharply in July amid tougher funding rules for real estate, lackluster government financing

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China’s credit growth slowed sharply in July, with new bank loans hitting the lowest level in nine months and the growth of total social financing hitting the slowest in 17 months, fuelling expectations that some policy easing may be needed to support recovery in the world's second largest economy.

Chinese banks extended 1.08 trillion yuan ($166.5 billion) in new yuan loans in July, sharply down from 2.12 trillion yuan in June and marking the lowest level since October 2020, according to data released by the People’s Bank of China (PBOC) on . . .

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