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China bank lending hits fresh record after strong credit surge in November

Chinese banks extended 1.12 trillion yuan ($169.27 billion) in net new yuan loans in November

Reuters 

Bank lending in China hit a fresh record after a much stronger-than-expected surge in credit in November, even as authorities step up efforts to reduce risks in the financial system from a rapid build-up in debt. Chinese banks extended 1.12 trillion yuan ($169.27 billion) in net new yuan loans in November, data from the People's Bank of China showed on Monday, well above analysts' expectations. Analysts polled by Reuters had predicted new yuan loans would rise to 800 billion yuan, from October's 663.2 billion yuan. The November figure was well above the highest ...

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First Published: Mon, December 11 2017. 17:40 IST
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