22 September 2018

PBoC rejects loan data duplication talk, paper says

Sheng Songcheng, head of the statistics department at the People’s Bank of China (PBoC), has dismissed talk of a duplication of data in the calculation of aggregate financing, the China Securities Journal reported Friday. A loan is considered part of the so-called society-wide financing whenever a financial institution obtains or extends the credit, Sheng said. The official made the remarks in response to concerns that there may be data duplication for entrusted loans and trust loans which involve intermediaries such as banks between creditors and borrowers.

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