China Credit Climbs More Than Forecast as Banks Boost Loans
- China’s credit expanded more than expected in August after the central bank pushed lenders to boost loans and the government accelerated the sale of bonds.
- Aggregate financing, a broad measure of credit, was 3.12 trillion yuan ($429 billion), the People’s Bank of China said Monday, higher than the 2.7 trillion yuan predicted by economists in a Bloomberg survey. Total credit was 2.5 trillion yuan in the same month a year ago. Financial institutions offered 1.36 trillion yuan worth of new loans in the month, more than the 1.25 trillion yuan forecast by economists