China Pledges Rapid, Sustainable Credit Growth Through 2024
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The People’s Bank of China said it will ensure credit grows rapidly and at a sustainable pace throughout 2024, in its latest effort to spur corporate borrowing and money supply expansion.
Aggregate financing, the widest measure of credit provided to the economy, rose 9.4% year-on-year in November. That continued a streak of single-digit growth in 2023, compared with the double-digit expansion that was normal in previous years.