22.6 C
New York
Wednesday, August 17, 2022

China banks told to rein in new lending growth: Caixin

China banks told to rein in new lending growth: Caixin© Reuters. FILE PHOTO: Illustration photo of a China yuan note

SHANGHAI (Reuters) – China’s banks are under pressure to keep the scale of new yuan lending constant this week as regulators try to curb loan growth ahead of the Lunar New Year holiday, financial magazine Caixin reported late on Monday, citing banking sources.

New loans in China reached a record 2.9 trillion yuan ($458.5 billion) in January, nearly five times higher than the previous month, the central bank said late on Monday.

Although banks usually front-load loans early in the year to win market share and secure higher quality customers, the surge still exceeded expectations, beating a previous record of 2.51 trillion yuan in January 2016.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source: Investing.com

Related Articles


Please enter your comment!
Please enter your name here

Stay Connected

- Advertisement -

Latest Articles

Popular Articles