China's Nov new yuan loans seen rebounding as stance shifts to easing

📆 12/9/2021 10:23 AM
📰 ChannelNewsAsia

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BEIJING : China's new yuan loans are expected to rebound in November from the previous month as the central bank seeks to bolster slowing growth in the world's second-biggest economy.Chinese banks are estimated to have issued 1.56 trillion yuan (US$245.90 billion) in net new yuan loans last month, up fro

BEIJING : China's new yuan loans are expected to rebound in November from the previous month as the central bank seeks to bolster slowing growth in the world's second-biggest economy.

On Tuesday, the central bank cut the rates on its relending facility by 25 basis points to support the rural sector and small firms. China will continue to implement proactive fiscal policy and prudent monetary policy next year. It will keep economic operations within a reasonable range in 2022, the Politburo, the country's top-decision making body, said this week.

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