{"id":3356,"date":"2023-04-07T08:29:40","date_gmt":"2023-04-07T08:29:40","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/chinas-new-yuan-loans\/"},"modified":"2023-04-07T08:34:00","modified_gmt":"2023-04-07T08:34:00","slug":"chinas-new-yuan-loans","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/chinas-new-yuan-loans\/","title":{"rendered":"China’s new yuan loans seen rebounding in March: Reuters poll"},"content":{"rendered":"

BEIJING (Reuters) – China’s new yuan loans are expected to rebound in March from a sharp drop in February, a Reuters poll showed, as the central bank keeps policy accommodative to support a nascent economic recovery. <\/p>\n

Chinese banks are estimated to have issued 3.24 trillion yuan ($471.30 billion) in net new yuan loans last month, up sharply from 1.81 trillion yuan in February, according to the median estimate in the survey of 20 economists.<\/p>\n

The expected new loans would be 3.5% higher than 3.13 trillion yuan issued in the same month a year earlier.<\/p>\n

After record growth in credit in January, new lending dropped sharply in February. Still, if the March reading meets forecasts, total lending in the first quarter would reach a record high of 9.95 trillion yuan.<\/p>\n

To spur growth, the central bank in March cut banks’ reserve requirement ratio (RRR) for the first time this year. <\/p>\n

The central bank has pledged to keep money supply and total social financing growth generally in line with nominal economic growth this year.<\/p>\n

Outstanding yuan loans were expected to grow by 11.7% in March from a year earlier, up from 11.6% in February, the poll showed. Broad M2 money supply growth in March was seen at 12.7%, down from 12.9% in February.<\/p>\n

China has set the 2023 quota for local government special bond issuance at 3.8 trillion yuan, up from 3.65 trillion yuan last year.<\/p>\n

Any acceleration in government bond issuance could help boost total social financing (TSF), a broad measure of credit and liquidity. Outstanding TSF was 9.9% higher at February-end than a year earlier, growing faster than the 9.4% annual rate seen at the end of January.<\/p>\n

In March, TSF is expected to rise to 4.5 trillion yuan from 3.16 trillion yuan in February, the survey showed.<\/p>\n

($1 = 6.8746 Chinese yuan renminbi)<\/p>\n

\n

(Reporting by Judy Hua, Qiaoyi Li and Ryan Woo; Editing by Christopher Cushing)<\/p>\n

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BEIJING (Reuters) – China’s new yuan loans are expected to rebound in March from a sharp drop in February, a Reuters poll showed, as the central bank keeps policy accommodative to support a nascent economic recovery. Chinese banks are estimated to have issued 3.24 trillion yuan ($471.30 billion) in net new yuan loans last month, […]<\/p>\n","protected":false},"author":8,"featured_media":3357,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[],"class_list":["post-3356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3605L-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/3356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=3356"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/3356\/revisions"}],"predecessor-version":[{"id":3358,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/3356\/revisions\/3358"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/3357"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=3356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=3356"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=3356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}