Chinese banks provided 1.84 trillion Yuan ($ 274.91 billion) in new loans during June, beating market expectations and rising sharply compared to May as policymakers stepped up support for China's economy.
Faced with a slowdown in domestic demand and the possible repercussions of a trade war with the United States, Chinese policymakers have recently strengthened policy support and eased their stance on deleveraging.
New loans were expected to rise by 1.6 trillion Yuan, much higher than the 1.15 trillion Yuan in May. Chinese banks made a record of 13.53 trillion Yuan in loans last year.
