2020 Full Year Renminbi New Lending to Approach USD$2.82 Trillion: Chinese Central Bank Governor

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People’s Bank of China (PBOC) chief Yi Gang (易纲) forecasts copious credit growth in 2020 following the economic impacts of the COVID-19 pandemic.

Yi said that monetary policy would “continue to maintain rationally ample liquidity,” and expected full-year new loans to approach 20 trillion yuan (approx. USD$2.82 trillion), and total social financing growth to exceed 30 trillion yuan ($4.23 trillion).

Yi made the remarks on 18 June at the 12th Lujiazui Forum in Shanghai.

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