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China Credit Growth Accelerates as Shadow Banking Gauge Picks Up

Corrected

China’s broadest measure of new credit increased more than estimated in March amid strong growth in shadow banking. New loans slowed for a second month while the money supply increased at the most sluggish pace since July.

The acceleration suggests a government campaign to ease financial and property risks may take longer to implement after big cities rolled out home purchase curbs. Policy makers last month cut the money supply growth target to 12 percent this year from 13 percent last year, with an economic growth target of "around 6.5 percent, or higher if possible."