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PBOC balance sheet shrank 720 billion yuan in first half, money multiplier hit record high

Chinese central bank's balance sheet shrank by more than 700 billion yuan in the first half of the year after several cuts to reserve requirement ratio. China's money multiplier hit a new record high amid credit expansion.

Central bank officials said that the shrinking balance sheet does not mean a drop in money supply, and instead, it means an expansion in credit.

By the end of June, the total asset on the balance . . .

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