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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
- 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
(Link to the story: https://bit.ly/2DHiQIL)