Beijing has learned its lesson about excessive monetary easing from the global financial crisis in 2008 when a massive amount of money was unleashed into hands of local governments and state enterprises, resulting in a mountain of debt. Photo: EPA-EFE
Beijing has learned its lesson about excessive monetary easing from the global financial crisis in 2008 when a massive amount of money was unleashed into hands of local governments and state enterprises, resulting in a mountain of debt. Photo: EPA-EFE

Explainer |
What does China’s September loan data mean for the economy and the yuan?

  • Banks in China extended 1.9 trillion yuan (US$283 billion) in new yuan loans in September, up from 1.28 trillion yuan in August
  • China is projected to be the only Group of 20 nation to record positive economic growth in 2020, according to the International Monetary Fund

Beijing has learned its lesson about excessive monetary easing from the global financial crisis in 2008 when a massive amount of money was unleashed into hands of local governments and state enterprises, resulting in a mountain of debt. Photo: EPA-EFE
Beijing has learned its lesson about excessive monetary easing from the global financial crisis in 2008 when a massive amount of money was unleashed into hands of local governments and state enterprises, resulting in a mountain of debt. Photo: EPA-EFE
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