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Free AccessForeign-funded banks in Shanghai........>
CHINA PRESS: Foreign-funded banks in Shanghai replaced Chinese banks as the main
credit providers in October, The Paper said late Wednesday, citing data released
by the central bank's Shanghai branch.
- In October, loans issued by Chinese banks decreased by CNY7.439 billion, a
decline of CNY52.039 billion y/y; while loans issued by foreign banks increased
by CNY27.977 billion, a rise of 22.987 billion y/y. It is quite rare that the
credit supply from foreign banks far exceeds that of Chinese banks, The Paper
said.
- Correspondingly, new yuan loans in October decreased CNY1.637 billion, while
foreign currency loans surged by USD1.921 billion in a single month, The Paper
said.
(Link to the story: https://bit.ly/2DHiQIL)
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.