Ongoing uncertainty due to the US-China trade war has prompted a slowdown in demand for credit, as Chinese banks lent CNY1.06tn ($150.2bn) in June, according to the country's central bank. The figure was down from July's CNY1.66tn, and lower than economists' estimates of CNY1.25tn. Analysts said Beijing's crackdown on shadow banking, as well as weakening property sales, also contributed to the decline, and suggested "further monetary easing" to protect growth.
Ongoing uncertainty due to the US-China trade war has prompted a slowdown in demand for credit, as Chinese banks lent CNY1.06tn ($150.2bn) in July, according to the country's central bank. The figure was down from June's CNY1.66tn, and lower than economists' estimates of CNY1.25tn. Analysts said Beijing's crackdown on shadow banking, as well as weakening property sales, also contributed to the decline, and suggested "further monetary easing" to protect growth.