Rise in lending points to stability
In line with recent upticks of indicators, higher than expected lending data in November show growing momentum for the stabilizing of the real economy, analysts said.
Total social financing, which is the central bank’s measure of credit and liquidity in the economy, rose to 1.74 trillion yuan ($252.1 billion) in November from 896.3 billion yuan in October, data from the People’s Bank of China showed on Wednesday.
New yuan loans issued by Chinese banks totaled 794.6 billion yuan in November, up from 651.3 billion yuan in October, data showed.
A breakdown of data by sectors showed that most new yuan loans went to mortgages, but rising demand for corporate lending points to a warming trend of the economy, according to Liu Dongliang, an analyst with China Merchants Securities.