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China’s Central Bank, Regulator Urge Banks to Boost Lending

  • Banks should accelerate the delivery of approved loans: PBOC
  • Loan growth slumped in April, according to earlier data
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WATCH: The PBOC and the nation’s banking regulator are urging lenders to boost loans. Stephen Engle reports.Source: Bloomberg
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China’s central bank and banking regulator urged lenders to boost loans as the economy is battered by Covid outbreaks that have threatened growth this year.

People’s Bank of China Governor Yi Gang and other officials met with 24 major financial institutions Monday to discuss credit conditions and work, the central bank said in a statement Tuesday. The meeting called on banks to accelerate the delivery of approved loans, and also maintain the stable growth of property loans, according to the statement.