Chinese banks lend less in April – central bank

SHANGHAI: Chinese bank lending shrank in April from the previous month, the central bank said Monday, as the government tolerates weaker credit expansion despite the potential impact on economic growth.

New yuan loans extended by domestic banks reached 774.7 billion yuan ($124.2 billion) in April, down 17.6 billion yuan from the same month a year earlier, the People’s Bank of China (PBoC) said in a statement.