China Credit Growth Beats Expectations Amid Investment Push
- New corporate mid and long-term loans surge from a year ago
- Proxy for mortgages rises by largest amount since Jan. 2022
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China’s credit expanded faster than expected in March, a sign that the central bank’s moves to unleash more long-term liquidity into the economy and support bank lending is fueling investment activity.
Aggregate financing, a broad measure of credit, reached 5.4 trillion yuan ($784 billion) last month, the People’s Bank of China said Tuesday, higher than the median estimate among economists surveyed by Bloomberg. Financial institutions offered 3.9 trillion yuan worth of new loans, also higher than expected.