Chinese banks made about 719 billion yuan ($104 billion) in new yuan loans in April, up 64.9 billion yuan from the same period a year earlier, bank data showed on Thursday. People’s Republic of China (PBOC).
By comparison, China’s new yuan loans grew by 15.39 trillion yuan in the first quarter of 2023, up 4.54 trillion yuan from the same period last year.
The country’s total new social financing, a measure of the funds the real economy receives from the financial system, increased by 1.22 trillion yuan in April, nearly 273 billion yuan more than the same period a year earlier.
China’s foreign trade increases 5.8% to 13.32 billion yuan
According to Pang Ming, JLL’s chief economist for Greater China, the slowdown in the pace of credit expansion and new lending shows that banks are moderating their support, after easing early in the first quarter.
By comparison, China’s new yuan loans grew by 15.39 trillion yuan in the first quarter of 2023, up 4.54 trillion yuan from the same period last year.
“While monetary policies are expected to remain supportive in the second quarter to be in line with the strengthening of pro-growth policy, it will certainly be more targeted, with a more appropriate and sustainable pace in order to contain potential risks,” Pang predicted.
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2023-05-13 00:02:58
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