New RMB loans drop in April

Tougher regulation causes lending to decrease to 792.9 billion yuan

Total new yuan loans and social financing extended by Chinese commercial lenders dropped in April, after the authorities introduced tougher regulation over non-traditional financing channels.

According to data released by the central bank on Friday, new yuan loans fell to 792.9 billion yuan ($129 billion) last month, from 1.06 trillion yuan in March.