6 days ago
China's New Loans Plunge to Lowest Since 2007 as Demand Weakens
China's credit expansion rebounded less than expected in July from a year ago with a key loan gauge falling to the lowest since 2007, despite the boost from a surge in government bond sales.
Banks are usually in no rush to meet their quarterly loan targets in July, putting the brakes on financing activity. A year ago, bank credit to the real economy contracted for the first time since 2005, as domestic demand slumped with the economy caught in a deflationary cycle.
