Chinese banks provide more loans to backstop real economy


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A cashier at a bank in Taiyuan, Shanxi province counts renminbi notes. [Photo/China News Service] BEIJING - China's major State-owned banks stepped up lending to support the real economy in the first half of 2022 (H1), with more new loans flowing to infrastructure development, manufacturing, and other key economic drivers. The latest semi-annual reports of the six largest State-owned commercial banks showed that four of them issued more than 1 trillion yuan ($144.73 billion) of new loans in H1. New domestic yuan loans of the Industrial and Commercial Bank of China (ICBC), China's biggest commercial lender, reached 1.61 trillion yuan...