New yuan loan growth dips in Aug

Weak demand seen for financing as realty investments lose sheen

New yuan loan growth dropped sharply in China from a year ago in August, indicating weak demand for financing amid slowing investment in the infrastructure and property markets, the central bank said on Friday.

According to statistics released by the People's Bank of China, new yuan loans were 702.5 billion yuan ($115 billion) in August, down 10.3 billion yuan from a year ago. During the same period, aggregate financing fell to 957.4 billion yuan from 1.58 trillion yuan.