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New loans by Chinese banks surge to record 2.9t yuan in Jan

Sharp rise in demand for credit from both households and companies, auguring well for consumption, investment

Authorities are already warning China's banks to rein in new lending growth after the strong start to the year, says financial magazine Caixin.


CHINA'S banks extended a record 2.9 trillion yuan (S$612.42 billion) in new yuan loans in January, nearly five times the previous month's figure as policymakers aim to sustain solid economic growth while reining in debt risks.

While Chinese banks tend to front-load loans...

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