China's 2023 bank lending at record high, but economy still struggling

China's 2023 bank lending at record high, but economy still struggling

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In December, Chinese banks lent out 1.17 trillion yuan ($163.31 billion), less than the anticipated 1.40 trillion yuan. Despite this, the total lending in 2023 reached a new high of 22.75 trillion yuan, surpassing the previous year's record of 21.31 trillion yuan.