China’s new bank loans hit record high in January: report

Officials are also rolling out more measures to support the economy.

New bank loans in China hit an all-time high in January amidst efforts by government officials to roll out more measures, reports Reuters, based on central bank data.

Banks extended US$683.7b in new yuan loans in January, up sharply from December and beating analysts’ expectations, data from the People's Bank of China (PBOC) showed.

Chinese lenders are said to front-load loans at the beginning of the year to get higher-quality customers and win market share.

Policymakers have further pledged to roll out further measures to support the weaker-than-expected post-COVID recovery in the world's second-largest economy, amidst a deep property crisis and prolonged stock market rout.

ALSO READ: China’s big four banks saw market value growth in Q4

"January bank lending is stronger than expected, which will support the real economy," said Luo Yunfeng, an economist at Huajin Securities.

"Going forward, monetary policy is likely to be loosened marginally," Luo said.

Read more from Reuters:

Also Read

South Korea's household loans up 0.9% in Q3

South Korean banks’ delinquency rate fell in Sept 2024

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit