By Kevin Yao BEIJING (Reuters) - New bank lending in China beat expectations by nearly quadrupling in August from July's level, as the central bank ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBy Kevin Yao
Analysts polled by Reuters had predicted new yuan loans would rise to 1.20 trillion yuan in August. The new loans were higher than 1.25 trillion yuan in August last year. Household loans, including mortgages, rose to 392.2 billion yuan in August, versus a contraction of 200.7 billion yuan in July. Corporate loans rose to 948.8 billion yuan from 237.8 billion yuan in July.
Central bank officials have pledged to use policy tools such as reserve requirement ratio cuts to ensure reasonably ample liquidity.
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