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China Should Increase Pro-growth Policies To Boost Financing Demand

MNI (Singapore)

The sharp falls in China’s October credit and aggregate finance data indicate weak financing demand and that counter-cyclical policies need to be strengthened to promote credit expansion in infrastructure, manufacturing and real estate, reported citing analysts. Aggregate Finance grew CNY907.9 billion in October, CNY709.7 billion yuan less than the same period last year, mainly dragged down by sluggish new yuan loans and government bond financing, Yicai said. The credit easing process has slowed down amid repeated disruptions of production and consumption by Covid outbreaks, while slowing inflation should open up policy space for stabilising growth, the newspaper said analysts.

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