Poor growth in lending a concern

Private investment boost needed as effect of monetary stimulus declines, economists say

China's lower-than-expected new yuan lending growth in July points to the need to make more efforts to boost private investment as the effectiveness of monetary stimulus declines, economists said.

Total social financing, or non-government borrowing, the broadest measure for credit and liquidity, hit 487.9 billion yuan ($73.4 billion) in July, far below market expectations, according to the People's Bank of China, the central bank.