The People’s Bank of China (PBOC), China’s central bank, said on Friday that new yuan loans surged to 3.23 trillion yuan (US$476.97 billion) last month. Photo: Bloomberg
The People’s Bank of China (PBOC), China’s central bank, said on Friday that new yuan loans surged to 3.23 trillion yuan (US$476.97 billion) last month. Photo: Bloomberg

China’s loans hit all-time high as banks open floodgates in January to help slowing economy

  • New yuan loans reached 3.23 trillion yuan (US$476.97 billion), almost triple the amount from December
  • Flood of money could offer a lifeline to many indebted Chinese firms with total debt in China now close to 300 per cent of its gross domestic product

The People’s Bank of China (PBOC), China’s central bank, said on Friday that new yuan loans surged to 3.23 trillion yuan (US$476.97 billion) last month. Photo: Bloomberg
The People’s Bank of China (PBOC), China’s central bank, said on Friday that new yuan loans surged to 3.23 trillion yuan (US$476.97 billion) last month. Photo: Bloomberg
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