Chinese Lenders Pick Up Pace

BY

BEIJING?China's central bank is stepping on the accelerator, letting banks lend more to ensure that the nation's growth engine doesn't slow too sharply amid a sluggish global economy.

May data from the central bank showed that new bank loans for the month were up sharply from April's level, outpacing economists' already-optimistic expectations.

And economists say the trend of stepped-up lending is likely to continue in the months ahead.

New yuan loans issued by Chinese financial institutions totaled 793.2 billion yuan ($125.6 billion) in May, up from 682 billion yuan in April, data from the People's Bank of China showed Monday.

BY

BEIJING?China's central bank is stepping on the accelerator, letting banks lend more to ensure that the nation's growth engine doesn't slow too sharply amid a sluggish global economy.

May data from the central bank showed that new bank loans for the month were up sharply from April's level, outpacing economists' already-optimistic expectations.

And economists say the trend of stepped-up lending is likely to continue in the months ahead.

New yuan loans issued by Chinese financial institutions totaled 793.2 billion yuan ($125.6 billion) in May, up from 682 billion yuan in April, data from the People's Bank of China showed Monday.

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