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China’s Credit Growth Beats Expectations on Stronger Stimulus
China’s credit jumped in September as local governments rushed to sell infrastructure bonds and authorities eased mortgage restrictions in a bid to boost demand for real estate. Aggregate financing, a broad measure of credit, was 4.12 trillion yuan ($564 billion), the People’s Bank of China said Friday. That was well above the median estimate of 3.7 trillion yuan in a Bloomberg survey of economists. Financial institutions offered 2.31 trillion yuan worth of new loans in the month, lower than economists’ forecasts of 2.5 trillion yuan, and compared with 2.47 trillion yuan a year ago. The boost can in part be ... (full story)