China’s new bank loan growth slower than expected, total social financing growth slowed for sixth straight month to hit lowest since December 2018

chinese yuan

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New bank loans in China grew at a pace slower than expected in August and the growth of total social financing slowed for the sixth consecutive month to hit the lowest since December 2018, as the recovery in the world's second largest economy continued to lose steam.

Chinese banks granted 1.22 trillion yuan ($189.51 billion) in new yuan loans last month, up from 1.0832 trillion yuan in the previous month but missing analysts’ expectations, according to data released by the People’s Bank of China on Friday. The amount was 63.1 billion . . .




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