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Under the background of deleveraging,...>

CHINA PRESS
CHINA PRESS: Under the background of deleveraging, financial institutions have
shifted to debts and bonds purchase to provide liquidity for enterprises, Ruan
Jianhong, director of Financial Survey and Statistics Department under the PBOC,
said in commentary on Shanghai Securities News. 
- This shift shortened the financing chain and financing costs to the real
economy, Ruan said. The decrease in entrusted loans and credit loans in real
estate resulted in the decline in social financing growth, Ruan noted. 
- Commercial banks' interbank business and equity investment services shrank,
leading to a slight fall in M2 in June, Ruan said.

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