China's new loans in July fell to their lowest in eight months due to property curbs that have cooled mortgage lending and seasonal effects nike cortez pink australia , reinforcing views economic activity will slow in the second half.

Chinese banks extended 825.5 billion yuan (US$123.7 billion) in net new yuan loans last month — the lowest since November 2016 — down from 1.54 trillion yuan in June, but the figure was still above the 800 billion yuan expected by analysts surveyed in a Reuters poll.

Analysts say July loans indicate that banks moved some of their riskier shadow credit back onto their books in response to tighter regulations.

China is trying to reduce financial risks by containing rising debt and defusing property bubbles.

“This shows that banks are giving more support to the real economy as loans go back to the normal channel — in line with the direction of financial regulations,” said Wen Bin, senior analyst at Minsheng Bank in Beijing.

July lending is traditionally weak but last month’s level was still 49 billion yuan higher than the average of July figures between 2014 and 2016, according to Reuters calculations based on central bank data.

Broad M2 money supply in July grew 9.2 percent from a year earlier — the slowest since records began in 1996 nike cortez white australia , central bank data showed, missing forecasts for an expansion of 9.4 percent and compared with June’s 9.4 percent.

The People’s Bank of China has said that the slowing M2 growth could be a “new normal” due to the stepped-up crackdown on risky shadow lending activities.

Household loans, mostly mortgages, fell to 561.6 billion yuan in July from 738.4 billion yuan in June, according to Reuters calculations based on the PBOC’s data.

Household loans accounted for 68 percent of total new loans last month nike cortez blue australia , up from 48 percent in June.

Economists believe China will meet its 2017 growth target of around 6.5 percent after a surprisingly strong expansion of 6.9 percent in the first half of the year.

But most China watchers expect activity will slow slightly in coming months as signaled by a raft of data for July, mainly as higher financing costs and government measures to cool the heated property market dent economic output.

Total social financing, a broad measure of credit and liquidity in the economy, fell around a third in July to 1.22 trillion yuan from 1.78 trillion yuan in June.

Combined trust loans, entrusted loans and undiscounted banker’s acceptances nike cortez black australia , which are common forms of shadow banking activity, fell by 64.4 billion yuan in July, according to Reuters calculations.

The PBOC switched to a modest tightening stance at the start of this year to help cool a surging rise in debt, but it injected substantial funds in June to avoid a quarter-end cash crunch, market participants said.

The PBOC will strike a balance between deleveraging and maintaining stable liquidity nike cortez red australia , it said in the latest quarterly policy report that underscored policymakers’ efforts to keep the economy on an even keel.

“While we think the PBOC is now done tightening monetary policy, we expect market rates to remain elevated enough to keep credit growth slowing,” said Julian Evans-Pritchard at Capital Economics.

WELLINGTON, June 18 (Xinhua) -- New Zealand's economy grew slower than expected in the quarter ending March, prompting analysts to forecast another interest rate cut next month.

Gross domestic product (GDP) rose by 0.2 percent in the March quarter , down from 0.7 percent in the previous quarter, the government statistics agency said Thursday.

The lower growth reflected a 2.9-percent fall in primary industries, the largest fall since September 2010, according to Statistics New Zealand.

"Oil and gas were big factors in the lower GDP growth this quarter," national accounts manager Gary Dunnet said. "There was less extraction and exploration nike cortez australia online , as international prices fell."

Agriculture fell by 2.3 percent in the March quarter, dragged down by lower milk production.

Forestry production and exports of forestry products were also down.

A 2.4-percent increase in retail trade and accommodation helped to offset the decrease in primary industries.

Possible contributors to retail trade and accommodation includes the 2015 Cricket World Cup, which New Zealand co-hosted with Australia, and more visitors during Chinese New Year than in the past.

International tourist spending in New Zealand was up 2.3 percent in the March quarter.

Despite lower quarterly growth, annual GDP growth was still strong at 3.2 percent.

The size of the economy was 239 billion NZ dollars (165.17 billion U.S. dollars) for the year ended March.

An Economic Note from the ASB Bank said the quarterly growth was weaker than the market's median expectation of 0.6 percent.

It said the figures would be a "significant surprise" to the Reserve Bank of New Zealand (RBNZ) nike cortez australia sale , which cut the official cash by 25 basis points to 3.25 percent earlier this month and signaled another possible cut in September.

"We now expect this rate cut to come in July rather than September," said the Economic Note.

Finance Minister Bill English said the figures showed solid, sustainable economic growth that had seen 74,000 jobs created in the past year, and average annual wages rising faster than inflation.

"The lower dairy output was in line with Treasury's forecasts cheap nike cortez australia , which see the economy continuing to grow at around 2.8 percent on average over the next four years," English said.

"This results highlights that New Zealand is closely tied to international markets, and risks are ever-present."

NEW YORK, March 17 (Xinhua) -- U.S. stocks closed mixed Tuesday, as investors were closely watching the Federal Open Market Committee's (FOMC) two-day meeting.

The Dow Jones Industrial Average lost 128.41 points nike cortez australia , or 0.71 percent, to 17,849.01. The S&P 500 di. Wholesale Jerseys From China   Wholesale Authentic Jerseys   Jerseys Free Shipping   NHL Jerseys Wholesale   MLB Jerseys Wholesale   Adidas NHL Jerseys Wholsale   Nike NFL Jerseys From China   Nike NFL Jerseys Cheap   Jerseys Wholesale   Custom Jerseys China