China’s new loans surge in June, raising inflation fears

China’s new yuan-denominated loans surged in June as the government moved to buoy the slowing economy, raising concerns that fast credit growth will push up inflation.

June’s new yuan-denominated loans rose by 285.9 billion yuan (about US$45 billion) year on year to 919.8 billion yuan (US$144 billion), the People’s Bank of China, or the central bank.