The People’s Bank of China released preliminary data on total social financing in July, indicating overall credit reached RMB809 billion in the first month of the third quarter, RMB243 billion lower than the same period last year.
From January to July, total cumulative social financing stood at RMB10.96 trillion, RMB2.13 trillion more than the same period last year.
During the month of July, new RMB loan increased RMB699.9 billion. Foreign currency loan decreased RMB115.7 billion. Corporate bond issuance reached RMB46 billion.