New bank loans in China rose to a three-month high in June as policymakers sought to keep ample funds in the financial system to support the slowing economy amid rising US trade pressure, said Reuters.
Chinese banks extended RMB 1.66 trillion ($241.47 billion) in net new yuan loans in June, up from RMB 1.18 trillion in May, according to data released by the People’s Bank of China on Friday.
Household loans, mostly mortgages, rose to RMB 761.7 billion from RMB 662.5 billion in May, while corporate loans rose to RMB 910.5 billion from RMB 522.4 billion.