China’s slower loan growth is emerging as a new normal as weakening property and local government sectors reduce credit demand faster than emerging industries can make up for it, PBOC Governor Pan Gongsheng said. Although new bank lending recovered in August from July’s record contraction, it remained below market expectations, with weak household and business borrowing continuing to weigh on overall credit growth.
Market Samachar is a news aggregator. This article was originally published by Markets-Economic Times. Tap the button above to read the full story on their site.