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China banks’ lending hits record $1.58 trillion in 2014

January 15, 2015, 11:43 UTC+3 BEIJING
The volume of cash and non-cash funds in the Chinese economy grew by 12.2% in 2014 to $20 trillion
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© EPA/HOW HWEE YOUNG

BEIJING, January 15. /TASS/. China new yuan-denominated lending increased by almost 9% in 2014 from the previous year to a record $1.58 trillion, the People’s Bank of China said on Thursday.

The volume of cash and non-cash funds in the Chinese economy grew by 12.2% in 2014 to $20 trillion.

Total social financing, a broad measure of liquidity in the Chinese economy, totaled $2.68 trillion in 2014 or $140.4 billion less than in 2013, the People’s Bank of China said.

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