News Snapshot:
By Judy Hua and Kevin Yao BEIJING (Reuters) -New bank lending in China tumbled in April from the previous month as the COVID-19 pandemic jolted the economy and weakened credit demand, central bank data showed on Friday, after it pledged to step up support to ward off a sharper slowdown. Chinese banks extended 645.4 billion yuan ($95.14 billion) in new yuan loans in April, down about 80% from March and falling short of analyst expectations, according to the People’s Bank of China data. Analysts polled by Reuters had predicted new yuan loans would fall to 1.52 trillion yuan in April...
