Global EconomyIMPORTANT
PBoC Governor Pan says slower loan growth may become 'new grateful' and that slower credit growth can stabilise debt levels
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China's loan growth slowed to a record low 4.9% in August 2026, while the central bank planned macroprudential measures to restrain excessive bank holdings of long-term bonds.
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Says: China will support local government financing vehicles to resolve debt risks. Will improve short term interest rate adjustment mechanism and further refine policy rates. Will strengthen the role of policy interest rates.
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