Date
18 October 2017

Local banks in Shanghai see slower new loans growth, Xinhua says

Domestic financial institutions in Shanghai reported slower growth in new loans in October, while their foreign-funded counterparts saw an increase, Xinhua news agency reported late Thursday, citing data from the Shanghai office of the People’s Bank of China. New renminbi and foreign currency loans issued by domestic lenders in Shanghai increased 11.57 billion yuan (US$1.9 billion) in October from the previous month, 4.83 billion yuan less than the level seen a year ago and 41.87 billion yuan less than the September growth. Foreign-funded financial institutions extended 6.05 billion yuan of new loans, up 3.24 billion yuan from September, the report said.

– Contact HKEJ at digest@ejinsight.com

MY/AC/CG

 

 

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