Chinese banks extended US$94.5 billion in new net loans in October. Photo: AP

China’s surging pork prices leave limited leeway for interest rate cut to support growth

  • Surging pork prices pushed China’s consumer price index to a nearly eight year high, making the central bank reluctant to act even as the economy slows further
  • China is also not giving up its deleveraging programme to reduce debt and risky lending, limiting funding to consumers and small businesses
Topic |   China economy

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Chinese banks extended US$94.5 billion in new net loans in October. Photo: AP
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Karen Yeung

Karen Yeung

Karen Yeung joined the Post in 2017 after more than 15 years' experience on global newswires in Hong Kong and Shanghai. She spent eight years in Shanghai and has received awards for best feature, analysis and agenda-setting.