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15 Apr 2015
China's banks lending expands in March - PBOC
FXStreet (Mumbai) - China's bank lending expanded in March, according to the People's Bank of China (PBOC), the country's central bank, while the bank acknowledged that broader credit growth declined, reflecting the slowest pace of growth in some 25 years on Tuesday.
New loans by domestic banks in China in total reached 1.18 trillion yuan (USD190 billion), the People's Bank of China (PBOC) said in a statement, an increase from 1.02 trillion yuan reported in February.
However, total social financing, which indicates a broader measure of credit in the economy, reached 1.18 trillion yuan in the third month of the year, lower than the previous month's 1.35 trillion yuan.
The PBOC also announced that China's foreign exchange reserves slipped to USD3.73 trillion at the end of the first quarter. The largest foreign exchange reserves level in March marked the third straight quarterly decline, as they stood at USD3.84 trillion at the end of the last year.
New loans by domestic banks in China in total reached 1.18 trillion yuan (USD190 billion), the People's Bank of China (PBOC) said in a statement, an increase from 1.02 trillion yuan reported in February.
However, total social financing, which indicates a broader measure of credit in the economy, reached 1.18 trillion yuan in the third month of the year, lower than the previous month's 1.35 trillion yuan.
The PBOC also announced that China's foreign exchange reserves slipped to USD3.73 trillion at the end of the first quarter. The largest foreign exchange reserves level in March marked the third straight quarterly decline, as they stood at USD3.84 trillion at the end of the last year.