BEIJING (Reuters) – China’s new yuan loans are expected to fall sharply in July from June after record lending in the first half, a Reuters poll showed, but they could still exceed the year-earlier amount as the central bank seeks to underpin the economy amid a faltering recovery.
Chinese banks are estimated to have issued 800 billion yuan ($110.98 billion) in net new yuan loans last month, down sharply from 3.05 trillion yuan in June, according to the median estimate in the survey of 29 economists.
But the expected new loans would be higher than the 679 billion yuan issued in the same month a year earlier.
Chinese banks doled out 15.73 trillion yuan in new loans in the first six months of this year, the highest first-half number on record, central bank data showed.
China’s economy grew at a frail pace in the second quarter as demand weakened at home and abroad, with the post-COVID…
