Last month, banks extended a record monthly high of 3.98 trillion yuan (US$626 billion), a year-on-year increase of 11.5 per cent, the People’s Bank of China (PBOC) said on Thursday, and up from 1.13 trillion yuan in December. Photo: Reuters
Last month, banks extended a record monthly high of 3.98 trillion yuan (US$626 billion), a year-on-year increase of 11.5 per cent, the People’s Bank of China (PBOC) said on Thursday, and up from 1.13 trillion yuan in December. Photo: Reuters
Banking & finance
Economy /  Economic Indicators

China seeks economic, political stability with the ‘vigour of an uncaged tiger’ as loans soar

  • Chinese banks extended a record monthly high of 3.98 trillion yuan (US$626 billion) in new loans in January, representing a year-on-year increase of 11.5 per cent
  • It cut two major policy rates last month to reflect mounting pressure for pro-growth measures after the economic growth rate slowed to 4 per cent in the fourth quarter

Frank Tang
Frank Tang in Beijing

Updated: 6:45pm, 11 Feb, 2022

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Last month, banks extended a record monthly high of 3.98 trillion yuan (US$626 billion), a year-on-year increase of 11.5 per cent, the People’s Bank of China (PBOC) said on Thursday, and up from 1.13 trillion yuan in December. Photo: Reuters
Last month, banks extended a record monthly high of 3.98 trillion yuan (US$626 billion), a year-on-year increase of 11.5 per cent, the People’s Bank of China (PBOC) said on Thursday, and up from 1.13 trillion yuan in December. Photo: Reuters
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