For the period from January to July of this year, the total volume of new social financing in China, which is a broad indicator of lending and liquidity in the country, amounted to 22.25 trillion yuan (3.3 trillion dollars), a decrease of 1.74 trillion yuan (0.26 trillion dollars) compared to the same period last year. last year, according to the People's Bank of China (PBOC)).
During the specified period, the volume of new loans in Chinese currency in China amounted to 10.38 trillion yuan (1.5 trillion dollars), which indicates about 2.49 trillion yuan less than in the same period last year.
In July alone, the volume of new loans in Chinese currency in China decreased by a record 340 billion yuan ($50.1 billion), the second decline this year after the decline seen in April. This indicates that the current demand for financing from the real sector of the economy is in a very weak phase.
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