4 days ago
- Business
- Wall Street Journal
China's New Yuan Loans Drop Unexpectedly
China's new yuan loans dropped unexpectedly in July, sending yet another sign of weak demand in the economy despite Beijing's efforts to bolster domestic demand.
A measure of new yuan loans shrank by 50 billion yuan last month, according to official data released Wednesday by the People's Bank of China, suggesting that borrowers rushed to repay funds. It marked the first such decline in about 20 years.
