China urges banks to expand lending, credit use to boost consumer spending

Q: How long will it take to read this news story?

The story "China urges banks to expand lending, credit use to boost consumer spending" has 444 words across 16 sentences, which will take approximately 2 - 4 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "China urges banks to expand lending, credit use to boost consumer spending" was covered 5 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 146 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #26985981</li><li>URL: https://chronographically.beamstart.com/news/china-urges-banks-to-expand-17419453991076</li></ul>

Business Standard Logo Business Standard 5h ago

China urges banks to expand lending, credit use to boost consumer spending - Business Standard

Quick Summary:

Officials are due to hold a briefing on Monday on efforts to increase spending and investment, factors considered crucial for keeping the economy on track following the setbacks of the COVID-19 pandemic, when millions of people lost jobs and many companies went out of business.

The order on Friday from the country's financial regulator is part of the ruling Communist Party's latest push to build more confidence among consumers who are opting to save rather than spend, worried over jobs and the outlook for the economy.

China has ordered banks and other financial institutions to encourage more consumer financing and use of credit cards as part of a campaign to get people to spend more.