New Yuan Loans Seen To Exceed CNY4 Trillion In January

New yuan loans are expected to exceed CNY4 trillion in January, which would be the second highest level on record, Securities Daily reported citing analysts. Wang Qing, chief analyst at Golden Credit Rating estimated new loans will reach about CNY4.6 trillion, slightly lower than the historical high of CNY4.9 trillion over the same period last year, as banks, driven by regulators, decentralized lending in November and December last year. Aggregate finance may reach CNY5.6 trillion, about CNY400 billion less than January 2023, as the issuance of government bonds scales down, though this will be partly offset by the increasing net financing of corporate bonds, said Wang.