Prices at the Pumps - April 17, 2024 #saltwire #energymarkets #pricesatthepumps #gaspricesBEIJING - There is still room for China's central bank to take steps to support the economy, but efforts are needed to prevent cash from sloshing around the banking system as real credit demand weakens, senior officials at the bank said on Thursday.
China's central bank cautioned on Thursday against a"one-sided" pursuit of credit expansion after data showed a slowdown in bank lending, vowing to prioritise the quality of credit over size and move to revitalising existing loans. "Credit demand has weakened compared to previous years, and the credit structure is also being optimised and upgraded," Zou said, adding that China's money supply growth could slow down and people should not simply look at year-on-year growth.