Sunday, 21 July 2019 02:24 GMT
img

Shanghai's foreign banks become main credit suppliers




(MENAFN - Asia Times) Foreign banks in Shanghai have replaced Chinese banks to become the main force of credit supply, The Paper reported.

According to the latest data released by the central bank's Shanghai branch, new yuan loans and foreign currency loans increased by 19.40 billion yuan (US$2.79 billion) in October.

Among them, new loans issued by Chinese banks decreased by 7.44 billion yuan, a year-on-year decline of 52.04 billion yuan. While new loans by foreign-funded banks increased by 27.98 billion yuan, a rise of 22.99 billion yuan over the same period last year.

Correspondingly, new yuan loans decreased by 1.64 billion yuan in October, a decline of 41.33 billion yuan year-on-year. While foreign currency loans surged, increasing by US$1.92 billion in a single month, an increase of US$1.06 billion from a year earlier.

It is quite rare that the credit supply of foreign banks far exceeds that of Chinese banks, the report said.

The daily<> Must-reads from across Asia - directly to your inbox <> <> <> <> China Digest Business China Shanghai foreign banks Credity supply Credit supply Comments

MENAFN1511201801590000ID1097699891


Shanghai's foreign banks become main credit suppliers

Authors_Square_PromoteArticle2019

  Most popular stories  

Day | Week | Month