China’s New Loans Increase Sharply In July

China’s new RMB loans rose sharply to RMB1.48 trillion in July, up from RMB1.28 trillion recorded in June, as stock market rescue policy lifted new loan numbers.

Total social financing aggregate declined sharply to RMB718.8 billion in July, down from June’s RMB1.86 trillion.

China’s M2 growth accelerated to 13.3% in July, up from 11.8% in June, due to easing measures and the government’s stock market rescue.

Chinese commercial banks were ordered to lend to China Securities Finance Corporation (CSF), which could total as much as RMB1.3 trillion as of mid-July, says a research report by ANZ.

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