According to the People’s Bank of China, short-term lending to corporations in July fell 219.5 billion yuan (US$31 billion), having dropped by 103 billion yuan at the same time last year. Photo: Reuters
China’s banks resisting calls for more loans to firms due to rising default risks, lower demand due to trade war
- Short-term lending to corporations in July fell 219.5 billion yuan (US$31 billion), while long term loans suffered a decline of 25 per cent
- Chinese leaders made it clear at their top-level policy meeting in July that they wanted more long-term capital flowing to private manufacturing firms
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China economy
According to the People’s Bank of China, short-term lending to corporations in July fell 219.5 billion yuan (US$31 billion), having dropped by 103 billion yuan at the same time last year. Photo: Reuters
US President Donald Trump on Tuesday moved forward with plans to place a new 10 per cent tariff on Chinese goods. Photo: AP
China slowdown persists as industrial economy posts worst growth since February 2002
- Industrial production – a measure of China’s industrial sectors including manufacturing and mining – grew by just 4.8 per cent in July
- Retail sales, a key metric of consumption in the world’s most populous nation, grew 7.6 per cent in July, down from 9.8 per cent growth in June
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China economy
US President Donald Trump on Tuesday moved forward with plans to place a new 10 per cent tariff on Chinese goods. Photo: AP