China’s Credit Growth Rebounds Faster Than Expected in March
- Structure of credit growth remains imbalanced, economists say
- Government bond sales, corporate financing boost credit growth
Beijing, China in March.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
China’s credit expanded faster than expected in March as local governments and companies accelerated borrowing, even though mortgage growth remains weak due to worries about the property sector slump.
Banks lent 3.1 trillion yuan in the month, up from 1.2 trillion yuan in February and exceeding the consensus estimate of 2.8 trillion yuan, according to data released by the People’s Bank of China Monday. Aggregate financing, a broad measure of credit to the real economy, reached 4.7 trillion yuan, beating the 3.6 trillion yuan projected by economists.