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Lending Hits New Record in China
Industrial output surged and lending hit new records in China in March, adding to signs its massive $585 billion (3.75 trillion yuan) stimulus program is beginning to bear fruit. The government added more fuel to the fire by saying it may bolster its stimulus plan to keep economic growth on track.
China’s industrial production grew 8.3% in comparison to 2008, from a record low of 3.8% in the first two months of the year. Consumer demand grew “relatively rapidly” in the first quarter, Premier Wen Jiabao told state-controlled Xinhua News Agency.
The production gain came as new lending to rose to…
14Apr2009 | Money Morning | 0 comments | Continued
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