Number of newly issued bank loans in China fell compared to June with 41.3 percent, according to AFP referring to the People's Bank of China. At the moment the banking sector received loans worth 540 billion yuan, or $ 85 billion. This result was lower than analysts' assumptions, sounded worth 665 billion yuan.
Earlier Min.Torg. China published data on exports and imports, and these data were also low. Export growth in July was only 1% (annualized) compared with June - 13%, while imports rose by only 4.7% in June 6.3%.
In general, a "strong" China's economy shows more visible signs of slowing growth. Last time China shows such disappointing results in economics in 2009. Since GDP growth in the first half of this year fell to 7.6% compared to the first half of last year.
Slower growth in the Chinese economy due to the reduction of activity in the property market and reduced demand for the products of China in the world. In particular it concerns an important trade partner of China - the European Union, which is now in deep financial crisis.
At the same time, inflation in China fell in July to 1.8% - the figure is the lowest in 2.5 years. CBK has taken steps to mitigate the financial policy, the results of which may occur at the end of the year.