Chinese bank financing for foreign trade surges

China Daily

The volume of outstanding trade financing between banks and China's exporters and importers amounted to 2.96 trillion yuan ($469 billion) at the end of September, 34.2 percent higher than a year earlier, according to new official data. The percentage was 17.8 points higher than the average growth of loans in the banking sector in both yuan and foreign currencies, a spokesman for the China Banking Regulatory Commission said on Tuesday.

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