In the January-July period this year, new aggregate social financing in China, a broad measure of credit and liquidity in the country, amounted to RMB 22.25 trillion ($3.3 trillion), decreasing by RMB 1.74 trillion ($0.26 trillion) compared to the same period of last year, according to the People's Bank of China (PBOC).
In the given period, new Chinese currency loans in China totaled RMB 10.38 trillion ($1.5 trillion), indicating a decrease of roughly RMB 2.49 trillion compared with the same period last year.
In July alone, new Chinese currency loans in China posted a record contraction of RMB 340 billion ($50.1 billion) - the second contraction this year after the decline seen in April. This indicates that the current financing demand from the real economy is in a very weak phase.
