Related News
Credit growth slows faster than expected
By Zhang Fengming |
August 11, 2010, Wednesday
|
Online Edition
Online Edition
BANKS in China extended a smaller-than-expected 532.8 billion yuan (US$78.6 billion) of new yuan loans in July, the central bank said today.
The July new credit was down from June's 603.4 billion yuan, according to data posted by the People's Bank of China on its website.
M2, the broadest measure of money supply including cash and all deposits, grew 17.6 percent in July from a year ago, taming from June's 18.5 percent.
Monetary growth has been slowing down since hitting a record of 29.6 percent in November.
"The slowdown in monetary growth was sharper than expected, consistent with weaker than expected growth in other July data," Nikhilesh Bhattacharyya, a Moody's Economist.com associate economist, said today.
China today also posted its July data on industrial output and fixed assets investment, which showed downtrend of growth.
"The slowdown of July money growth is a welcome sign for policy makers concerned about monetary growth feeding into inflation."
The July new credit was down from June's 603.4 billion yuan, according to data posted by the People's Bank of China on its website.
M2, the broadest measure of money supply including cash and all deposits, grew 17.6 percent in July from a year ago, taming from June's 18.5 percent.
Monetary growth has been slowing down since hitting a record of 29.6 percent in November.
"The slowdown in monetary growth was sharper than expected, consistent with weaker than expected growth in other July data," Nikhilesh Bhattacharyya, a Moody's Economist.com associate economist, said today.
China today also posted its July data on industrial output and fixed assets investment, which showed downtrend of growth.
"The slowdown of July money growth is a welcome sign for policy makers concerned about monetary growth feeding into inflation."
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
