China’s Credit Beats Expectations as Banks Pushed to Boost Loans

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China’s Credit Beats Expectations as Banks Pushed to Boost Loans
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China’s credit expanded more than expected in August after the central bank pushed lenders to boost loans and the government accelerated the sale of bonds.

Aggregate financing, a broad measure of credit, was 3.12 trillion yuan , the People’s Bank of China said Monday, higher than the 2.7 trillion yuan predicted by economists in a Bloomberg survey. Total credit was 2.5 trillion yuan in the same month a year ago

Credit extension is typically stronger in August after a drop-off in the prior month, although this July’s slump was particularly steep as businesses and consumers curbed demand for loans.

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