-
China April bank lending tumbles more than expected amid trade war
China's new bank loans tumbled more than expected in April as a protracted trade war with the United States further eroded the market's appetite during a typically slow month for loan demand. Chinese banks extended 280 billion yuan ($38.87 billion) in new yuan loans in April, below analysts' forecasts and plummeting from March's 3.64 trillion yuan, according to Reuters calculations based on data released by the People's Bank of China. In a Reuters poll, analysts had expected April new yuan loans would reach 700 billion yuan, compared with 730 billion yuan a year earlier. Total outstanding yuan loans rose 7.2% in ... (full story)
