BEIJING, April 16 (Xinhua) -- China's new short-term loans for the household sector in March, many of which were personal consumption loans, reached 429.4 billion yuan, hitting a new record high, according to data released by China's central bank on April 12.
The unexpected growth of such short-term loans was attributed to the transfer of part of such loan demands of February to March, as well as the retail business transformation of banks, pointed out Liao Zhiming, an analyst at TF Securities, a Wuhan-based securities firm.
According to the People's bank of China, the new medium-term and long-term loans for the household sector in March reached 460.5 billion yuan, an increase of 83.5 billion yuan from the last year.
Besides, the new credit loans in this month registered 1.69 trillion yuan, with social financing rising by 2.86 trillion yuan and the year-on-year growth rate of M2 (broad money) reaching 8.2 percent.
Important financial data all exceeding market expectation indicates increasing financial support for the real economy under the adjustment of monetary policies, said insiders. (Edited by Gu Shanshan)
A single purchase
