Chinese banks extended 905.7 billion yuan (US$130 billion) in new yuan loans in February, down from a record 3.34 trillion yuan (US$480 billion) in January and missing analyst expectations, according to data released by the People’s Bank of China (PBOC) on Wednesday. Photo: Reuters

China’s loans slumped in February due to coronavirus, Lunar New Year

  • Chinese banks extended 905.7 billion yuan (US$130 billion) in new yuan loans in February, down from a record 3.34 trillion yuan (US$480 billion) in January
  • Banks saw a net decline of 413.3 billion yuan (US$59 billion) in household loans in February compared with a rise of 634.1 billion yuan in January
Topic |   China economy
Chinese banks extended 905.7 billion yuan (US$130 billion) in new yuan loans in February, down from a record 3.34 trillion yuan (US$480 billion) in January and missing analyst expectations, according to data released by the People’s Bank of China (PBOC) on Wednesday. Photo: Reuters
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