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China's new yuan loans surge to record high in January

New apartment buildings under construction in Nanjing, Jiangsu province. Analysts also attributed the surge in new loans to soaring demand for mortgages as property prices are recovering.


CHINESE banks armed with fresh lending quotas extended a record 2.51 trillion yuan (S$540 billion) of new loans in January, far more than markets had expected, suggesting Beijing is keeping monetary policy loose to counter a protracted economic slowdown.

Economists polled...