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July 6, 2020

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Recovery fuels surge in loan demand

China saw stronger overall demand for loans in the second quarter of this year as economic activities remained on the track to recovery, a central bank survey showed.

The index for overall loan demand surged to 75.8 in Q2 from 66 in the previous quarter, according to a survey of bankers by the People’s Bank of China.

A breakdown of the data showed the manufacturing and infrastructure sectors recorded a higher demand for credit support in Q2 than in the previous quarter.

The loan demand index for manufacturing in Q2 was 70.6, up from 65.6 in Q1, while that for the infrastructure sector expanded to 69.7 from 62.3.

Among companies of all sizes, small and medium-sized enterprises registered the fastest expansion of demand for loans, the report said.

Another central bank report showed that businesses posted improving profitability in Q2, with the index surging to 49.6 from 22.3 in Q1.




 

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