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

 -  -  35

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.

Related stories

To­tal So­cial Fi­nanc­ing Rises 12.5% YoY in May as “Loose Credit” Con­di­tions Emerge in China

China De­vel­op­ment Bank Plans to Ex­tend over USD$50 Bil­lion in Credit to Greater Bay Area

Chi­nese Cen­tral Bank As­sets Con­tract by 1.2 Tril­lion Yuan in Feb­ru­ary as Coro­n­avirus Hits Credit De­mand

35 recommended
comments icon 0 comments
0 notes
bookmark icon

Write a comment...

Your email address will not be published. Required fields are marked *