China’s Credit Climbs, Led by Companies, Local Governments
The PBOC has urged lenders to “front-load” credit extension in order to spur the economy.
Source: Bloomberg
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China’s credit grew strongly in February driven by corporate and local government borrowing, while mortgage demand from households remained subdued.
Aggregate financing, a broad measure of credit, reached 3.2 trillion yuan ($460 billion) last month, the People’s Bank of China said Friday, higher than economists had projected and almost three times the amount in February last year.