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
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

China economy

Economy /  China Economy

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

Topic |   China economy
Frank Tang
Frank Tang in Beijing

Updated: 7:30pm, 14 Oct, 2020

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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
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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