Lending by China's Biggest Banks Falls for First Time Since '09
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The loans outstanding of China’s four biggest banks declined for the first time since at least 2009, adding to warning signs for a tepid economy.
Total loans by the four lenders, including Industrial & Commercial Bank of China Ltd., amounted to 35.7 trillion yuan ($5.6 trillion) at the end of October, down 65.6 billion yuan from a month earlier. That’s according to data released Sunday by the People’s Bank of China.