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Important news
在线翻译:
szdaily -> Business
At a Glance
    2017-May-15  08:53    Shenzhen Daily

    New yuan loans

    BANKS in China extended 1.1 trillion yuan (US$159.4 billion) in net new yuan loans in April, above analysts’ expectations.

    Analysts polled by Reuters had predicted new yuan loans of 714 billion yuan, down from 1.02 trillion yuan in March. Broad M2 money supply grew 10.5 percent from a year earlier, central bank data showed Friday, missing forecasts for an expansion of 10.8 percent. China’s banks extended a record 12.65 trillion yuan in loans in 2016 as the government encouraged credit-fueled stimulus to meet its economic growth target.

    Wealth management

    BANK wealth management products in China totaled 30 trillion yuan (US$4.35 trillion) in value at the end of April, an official with the banking regulator said Friday.

    Banks held 4.2 trillion yuan in interbank certificate of deposits at the end of April, up almost 70 billion yuan from end-March, Xiao Yuanqi, chief of prudent regulation bureau of China Banking Regulatory Commission, told a news briefing. Banks’ interbank investments totaled 37 trillion yuan at end-April, while entrusted loans were 13.83 trillion yuan.

    Fiscal spending

    CHINA’S fiscal spending rose 3.8 percent in April from a year earlier, slowing sharply from a 25.4 percent jump in March and adding to signs of cooling in the world’s second-largest economy.

    Central government spending rose 3 percent in April from a year earlier while local government spending grew 3.9 percent, the Finance Ministry said Friday. The slowdown in spending was mainly due to significant expenditure earlier, the ministry said.

 

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