News Snapshot:
Judy Hua, Kevin Yao BEIJING (Reuters] – New Chinese bank lending dropped in April compared to the month before, as China’s COVID-19 virus shook the economy. Chinese banks issued 645.4 billion yuan (95.14 billion dollars) of new yuan loans to customers in April. That’s a decrease of around 80% from March. Analyst expectations were not met, according the People’s Bank of China data. Reuters analysts polled predicted that the new yuan lending would drop to 1.52 Trillion Yuan by April. This is compared with 3.13 Trillion Yuan the month before and 1.47 Trillion Yuan a year prior. Due to credit...
