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In February, Chinese banks issued new loans in the amount of 885 billion 800 million yuan, which is significantly lower than the volume of loans in January in the amount of 3 trillion 230 billion yuan, the People's Bank of China reported. According to experts, it was expected to decline to 975 billion yuan. The February growth of aggregate M2 in annual terms was at the level of 8%, experts had predicted it at the level of 8.4%. The amount of outstanding loans in RMB showed an annual growth of 13.4%, confirming expert estimates. The total amount of funding grew by 10.1%. Its growth has slowed compared with the January increase of 10.4%. The Chinese authorities intend to increase the volume of lending to private and small companies by 30%.
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
The euro reached its highest level since early March after the European Union agreed on a deal for a massive stimulus package to support the bloc’s economy from the coronavirus pandemic. The deal was finalized after a round of compromises ...
Major Japanese banks saw record demand for the corporate loans that were offered since April as the COVID-19 pandemic continues to have companies rushing in to build up cash reserves, according to a central bank survey on Friday. The figures ...
European new car registrations fell in June year-on-year, but showed some improvement when compared to May 2020 as lockdown measures continue to loosen across the region, Tuesday’s industry data showed. In June, passenger car sales were ...
KYC Policy