The volume of lending in China in August was lower than expected

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According to the People's Bank of China, the volume of new bank lending to the PRC in national currency in August was 1 trillion 280 billion yuan, having decreased from 1 trillion 450 billion yuan in July. Analysts had predicted a figure of 1 trillion 400 billion yuan. At the same time, in August, compared to July, the country experienced a sharp jump in the aggregate amount of financing, which combines banking and off-balance-sheet loans, placement of shares and bonds, to 1 trillion 520 billion yuan, from 1 trillion 42 billion yuan. Experts had expected the figure at the level of 1 trillion 300 billion yuan. The growth of the aggregate of the money supply M2 in annual terms slowed to 8.2% from 8.5% a month earlier.

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