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Social financing is weighted down by....>

CHINA PRESS
CHINA PRESS: Social financing is weighted down by a contraction in
off-balance-sheet financing under strict regulations, but it is likely to grow
steadily after new asset management rules published last month are put in place,
China Securities Journal reported, citing Wen Bin, chief economist of Minsheng
Bank, after July's money supply data was published last night. 
  - Unexpected growth in new loans is mainly driven by policies, as the PBOC
injected more liquidity into the market and released more funds to small- and
micro-sized enterprises and infrastructure, the newspaper said, citing E
Yongjian, chief economist of Bank of Communications. 
  - The PBOC should next focus on enhancing the monetary policy transmission
mechanism, guiding more funds into the real economy, Wen added, according to the
newspaper.

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