New Bank Lending in China Falls to RMB 1.27 Trillion in November

The Central Bank of China has released data indicated a decrease in the loans issued total amount in the country in November to 1.27 trillion yen or $200 billion. Compared to the same month in 2020, the figure decreased by 160.5 billion yen. However, compared with the previous month, it showed an increase of 53.7 billion yen. The lending volume in November turned out to be worse than the surveyed analysts forecast. They expected the figure to rise to 1.56 trillion yuan. Experts note this indicator decrease in China is always observed in the last months of the year. Chinese banks tend to use lending quotas during the first three quarters of the year. Total funding rose to 2.61 trillion yuan in November, up 1.01 trillion from the previous month. As of November 30, the amount of outstanding loans increased in annual terms by 11.7%. The total amount of funds placed on deposits increased by 8.6% by the end of the month to 231.09 trillion yuan.

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Arseny Kudrin

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