China's July new bank loans slip into contraction for second time this year

China's total new yuan loans figure shrank by 340 billion yuan (HK$395.62 billion) in July, marking the second contraction this year after April as the economy struggles with weak credit demand, according to Reuters calculations based on data released by the People's Bank of China on Friday.

Analysts polled by Reuters had expected new yuan loans in July to reach 45 billion yuan, compared with 1.61 trillion yuan in June and a fall of 50 billion yuan a year earlier.

The PBOC does not release monthly breakdowns. Reuters calculated the July figure using the central bank's January to July data, compared with the January to June figure.

Reuters

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