China Says Slower Loan Growth is New Normal
China central bank governor Pan Gongsheng stated that slower loan growth is the new normal. Shrinking property sectors sap credit demand as emerging industries grow.
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China central bank governor Pan Gongsheng said slower loan growth is becoming the new normal as property contraction saps credit demand. The shift reflects economic restructuring toward high-tech sectors that require less traditional bank debt. Total outstanding loans stand above 280 trillion yuan ($41.73 trillion), with an exchange rate benchmark of USD/CNH trading in regional markets.
