China’s Credit Expansion Disappoints Despite Stronger Bond Sales
This article is for subscribers only.
A slowdown in China’s loan growth extended to a fresh record in a sign borrowing demand remains sluggish, though broader credit picked up thanks to strong government bond sales.
The stock of yuan-denominated loans to the real economy expanded 7.1% in February from a year ago, the slowest pace in data going back to 2003. Outstanding aggregate financing, a broad measure of credit, picked up slightly, according to figures released by the People’s Bank of China on Friday.