Shanghai Extends 10 Billion Yuan in Consumer CreditCommercial banks in Shanghai extended more than 10 billion yuan of consumer credit during the first half of this year, nearly 8.72 billion yuan of which were used for housing purchase, according to the local branch of the People's Bank of China, the country's central bank.By the end of June, local outstanding consumer loans for buying houses stood at nearly 39.8 billion yuan, with the amount of consumption loans for other items reaching 2.93 billion yuan. Insiders say that the banking loan mix in Shanghai has been improving and consumer market will ultimately become the crucial factor deciding the production scale and capital flow in local economic performance. |
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