New Loans Issued by Chinese Banks Decline

Beijing's efforts to curb lending seems to be working as new loans issued by mainland banks fell to 510.7 billion yuan (HK$580.41 billion) in March, reveals an Agence France-Presse report published by the South China Morning Post.

 

Quoting the People's Bank of China, the AFP article notes that new yuan loans handed out in the first quarter reached 2.6 trillion yuan compared with 4.6 trillion yuan in the same period last year.
 

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