China New Loans Jump 38 Percent In November

The value of new loans issued in China jumped approximately 38% to RMB708.9bn during November, up from the figure of  RMB513.6bn in October according to a research report from ANZ. However, while the rebound in new loans was impressive, the increase in lending was weaker than expected. Aside from seasonal factors driving up new loans, during the same period last year (November 2014) the value of new loans issued totalled RMB852.7bn. According to ANZ, the year-on-year decline in new loans issued indicated that “domestic demand remained soft and banks were cautious to provide new loans amid rising credit risks.” ANZ’s research also shows that total…