09-May-2025
Economy News
 
China urges banks to expand lending, credit use to boost consumer spending
15-Mar-2025

China has ordered banks and other financial institutions to encourage more consumer financing and use of credit cards as part of a campaign to get people to spend more. The order on Friday from the country's financial regulator is part of the ruling Communist Party's latest push to build more confidence among consumers who are opting to save rather than spend, worried over jobs and the outlook for the economy. It said banks should lend more and also find ways to help borrowers who run into difficulties. Share prices in China surged following the notice from the National Financial Regulatory Commission.

News Source:- https://www.business-standard.com/world-news/china-urges-banks-to-expand-lending-credit-use-to-boost-consumer-spending-125031400298_1.html