Number of yuan-denominated lending is growing in China
Date: 13:46, 13-07-2017.
Almaty. July 13. Silkroadnews – Number of yuan-denominated lending is growing in China, China Daily reported.
Ruan Jianhong, head of the central bank’s surveys and statistics department, said this June the number of yuan-denominated loans continues to increase, thus supporting the economic growth. At the same time, growth of the money supply slowed down as regulator worked to reduce excessive borrowing, report said.
In June China’s banks issued loans totaling 1.54 trillion yuan and money supply grew by 9.4% from a year earlier, slowing down from a 9.6% in May.
Recently introduced general social financing, which is another important indicator of financing, reached 1.78 trillion yuan in June.
