China January Lending Grew Less Than Estimated Amid Holiday
This article is for subscribers only.
China’s new lending grew less than estimated in January as the weeklong Lunar New Year holiday left financial institutions with fewer working days to grant credit and the central bank refrained from cutting reserve requirements.
Banks extended 738.1 billion yuan ($117 billion) of new yuan-denominated loans last month, according to data released by the People’s Bank of China today. That compares with the median forecast of 1 trillion yuan in a Bloomberg News survey of 26 economists and 641 billion yuan in December.