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China's Bill Financing Benchmark Hits 2-Year High

CHINA PRESS
MNI (Singapore)

The continued rise of interest rates on commercial bill financing in China this year reflected stronger demand for finance by corporates, banks' tightening loan quotas, and may eventually drive up loan rates, the China Securities Journal said in an editorial. A six-month benchmark rate on bill financing surged to the highest since December 2018, the newspaper said citing Wind data. The higher borrowing costs indicate quickening economic activities, in line with other data such as blast furnace operations, the export container price index and automobile purchases, as well as other debt financing activities, the Journal said.

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