Economics
China Credit Growth Expanded in August as Rate Cuts Kick In
- Aggregate financing increased to 1.08 trillion yuan for period
- New yuan loans decreased to 809.6 billion yuan in month
Easing Concern of Derailed Global Growth
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China’s broadest measure of new credit increased in August, suggesting demand for loans is holding up after renewed rounds of monetary easing that followed the stock-market debacle of the past three months.
Aggregate financing rose to 1.08 trillion yuan ($169.5 billion) in August, from 718.8 billion yuan in July, according to a report Thursday from the People’s Bank of China that matched the estimate for 1 trillion yuan in a survey of economists.