China New Loans Rise

Economy

Banks in China made 1.18 trillion yuan ($190.0 billion) worth of new loans in March, up from 1.05 trillion ($169.0 billion) in the same month a year ago, according to Central Bank data. New loans in the 1q15 totalled 3.68 trillion yuan ($592.4 billion), up 22.1% year-on-year and the highest quarterly total since the 1q09 when the Chinese government boosted loans as part of an economic stimulus plan in the face of a global economic slowdown. Total outstanding loans were up 14% year-on-year at the end of March at 85.3 trillion yuan ($13.7 trillion).