Date
24 October 2017

Shanghai posts 57% surge in new syndicated loans, paper says

Shanghai posted a 57 percent increase in new syndicated loans in the third quarter from the previous year on strong demand from the real estate and construction sectors, Shanghai Daily reported Wednesday. Banks lent 48.8 billion yuan (US$8 billion) of such loans in the three months to Sept. 30. By the end of the third quarter, the outstanding syndicated loans were 300.4 billion yuan, up 17.4 billion yuan from the previous three months, the report said citing the Shanghai Banking Association. State-run lenders including policy banks released 30.9 billion yuan in new syndicated loans, followed by foreign banks with 10.4 billion yuan, the report said. 

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