World Economy

China Lending Up

China Lending UpChina Lending Up

China’s total social financing was at 141.57 trillion yuan ($21.7 trillion) at the end of January, up 13.1% from a year earlier, the central bank said on Tuesday, Reuters reported. That included local-currency loans of 95.29 trillion yuan for the real economy at the end of January, which was up 14.9% year-on-year, the central bank said in a statement on its website. Chinese banks armed with fresh lending quotas extended a record 2.51 trillion yuan ($385.40 billion) of new loans in January, far more than markets had expected, suggesting Beijing is keeping monetary policy loose to counter a protracted economic slowdown.