China’s New Loans Plunged 61% as Trade War With US Intensified
This article is for subscribers only.
China’s new loans slumped sharply and credit expanded at a slower pace than expected in April, as escalating trade tensions with the US harmed sentiment.
Financial institutions offered 285 billion yuan ($40 billion) of new loans in the month, a drop of 61% from a year earlier to the lowest level since July, according to Bloomberg calculations based on data released by the People’s Bank of China on Wednesday. The median forecast of economists surveyed by Bloomberg was 700 billion yuan.