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Chinese banks extended record 16 trillion yuan new loans in 2018

Chinese banks extended a record 16.17 trillion yuan in net new loans in 2018, said the People’s Bank of China, as Beijing ramped up efforts to turn around stubbornly weak credit growth and revive flagging investment.

The new figure, well above the previous record of 13.53 trillion yuan in 2017, is an indication that the bank has been moderately aggressive in using monetary policy to stimulate the sharply slowing economy.

"Bank lending increased faster in 2018 than the previous year, in particular over the last couple of . . .

 

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