BEIJING : China's new yuan loans likely rebounded sharply in May after a drop in April, a Reuters poll showed, as the central bank ratchets up policy support for the slowing economy.
The Chinese government has stepped up support for the slowing economy as Shanghai and other cities ease COVID-19 lockdowns and mobility restrictions following a drop in new infections. In May, the central bank cut its benchmark reference rate for mortgages by an unexpectedly wide margin, its second reduction this year, in a bid to revive the ailing housing sector to prop up the economy.
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