China Record Bank-Deposit Slump in July Erodes Lending Capacity
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China’s local-currency bank deposits fell by a record in July, eroding lenders’ capacity to extend new credit just as the world’s second-biggest economy shows signs of faltering.
Yuan-denominated deposits fell by 1.98 trillion yuan ($321 billion) to 111.62 trillion yuan from the previous month, the central bank said today. That’s the biggest monthly decline in figures dating back to 2000.