Economic Buzz: China's new loans see sharp fall this year

China's total new yuan loans figure saw a contraction of 340 billion yuan in July, marking the second contraction this year after April, data from the People's Bank of China showed today. The new yuan loans from January to July total 10.38 trillion yuan. That is a sharp fall of around 19% compared to the 12.88 trillion yuan total from January to July last year.

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