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China March new yuan loans 1.02 trln yuan, less than expected

Chinese banks extended 1.02 trillion yuan ($148.14 billion) in net new yuan loans in March, below analysts' expectations. Analysts polled by Reuters had predicted new yuan loans of 1.25 trillion yuan, up from 1.17 trillion yuan in February.

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China's CPI weakend in March

Chinese consumer prices weakened further in March, but were little changed compared to a year ago, while producer prices rose at a steady pace. Beijing’s official consumer price index (CPI) rose 0.9% from a year ago, after slowing to 0.8% in February, the National Bureau of Statistics said in a report on Wednesday. Analysts in a median estimate called for a year-over-year gain of 1.1%. Consumer inflation has weakened sharply over the past two months after recording its strongest expansion since mid-2014.

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China Services PMI fell to 52.2

The headline reading of the Caixin China General Services PMI deteriorated to 52.2 in March, the lowest in six months and down 0.4 points from the previous month. The new business sub-index also showed its lowest reading since last September, while both sub-indices for input costs and output prices rose to their highest levels in more than a year.

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China's Trade Balance missed market expectations

China's trade balance for February, in Yuan terms, came in at -60.4 billion CNY vs 172.5bn expected and 354.5bn last. Exports came at 4.2% y/y vs 14.6% expected and 15.9% last, while imports were +44.7% y/y vs 23.1% expected and 25.2% last.

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