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
Topic |   China economy

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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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