China’s new bank lending hit a record 19.95 trillion yuan (US$3.1 trillion) for the year, up 1.6 per cent from 19.63 trillion yuan in 2020. Photo: AFP
China’s new bank lending hit a record 19.95 trillion yuan (US$3.1 trillion) for the year, up 1.6 per cent from 19.63 trillion yuan in 2020. Photo: AFP
Economy /  China Economy

China’s new bank loans hit record US$3.1 trillion in 2021, more than Britain’s GDP

  • Chinese banks extended 1.13 trillion yuan (US$177 billion) in new yuan loans in December, down from 1.27 trillion yuan in November
  • New bank lending hit a record 19.95 trillion yuan (US$3.1 trillion) for the year, up 1.6 per cent from 19.63 trillion yuan in 2020

Topic |   China's economic recovery
Reuters
Reuters

Updated: 6:05pm, 12 Jan, 2022

Why you can trust SCMP
China’s new bank lending hit a record 19.95 trillion yuan (US$3.1 trillion) for the year, up 1.6 per cent from 19.63 trillion yuan in 2020. Photo: AFP
China’s new bank lending hit a record 19.95 trillion yuan (US$3.1 trillion) for the year, up 1.6 per cent from 19.63 trillion yuan in 2020. Photo: AFP
READ FULL ARTICLE