Posted 3/15/2024, 11:05:18 AM
China Credit Growth Slumps to Record Low as Companies Shun Loans
- China's bank loans grew at slowest pace on record of 9.7% in February amid weak demand
- Credit growth dropped below 10% for the first time, underscoring sluggish borrowing demand
- Falling rates show companies not planning to invest or expand production in near term
- Recent rate cuts and reserve requirement reductions have done little to lift activity so far
- More fiscal stimulus and property market bottoming out needed to help credit demand rebound
