China's credit growth slows in July, but still up 345.9b yuan

People's Bank of China in Shanghai, China, Aug 31, 2020. /CFP

China's credit expansion slowed in July while bank deposits declined, central bank data showed Friday.

The country's new yuan-denominated loans totaled 16.08 trillion yuan ($2.22 trillion) in the first seven months of the year, representing a growth of 1.67 trillion yuan compared with the same period last year.

In July alon