China’s new bank loans hit a new record high in January, credit growth above expectations

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China's new bank loans more than tripled on month in January to hit a new record high and overall credit grew faster than expected as the authority steps up efforts to shore up slowing economy.

Chinese banks extended 3.98 trillion yuan ($626 billion) in new yuan loans last month, surging from 1.13 trillion yuan in December, according to data released by the People's Bank of China (PBOC) on Thursday. That's . . .

 

 

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