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China bank lending rose in March: central bank

China's bank lending rose in March, the central bank says, though broader credit growth declinedChina’s bank lending rose in March from the previous month, the central bank said Tuesday, though broader credit growth declined as the world’s second-largest economy expands at its slowest pace in nearly a quarter of a century. Domestic banks extended new loans of 1.18 trillion yuan ($190 billion), the People’s Bank of China (PBoC) said in a statement, up from 1.02 trillion yuan in February. China’s gross domestic product (GDP) expanded 7.4 percent in 2014, the slowest pace in 24 years, and last month the government cut the annual growth target to “approximately seven percent”.

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