China new bank loans disappoint in April as sluggish start to the year continues
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New yuan loans in April were -¥10 billion, indicating a concerning trend in credit demand. Year-to-date lending totals ¥8.59 trillion, down from ¥10 trillion last year. This decline suggests weakening economic momentum, prompting potential monetary policy easing by Beijing. Additionally, the US-Iran conflict is raising energy prices, further impacting China's economy, which relies on Iranian oil imports for about 15% of its total needs.
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