Central bank figures show lending in decline

SHANGHAI: The central government's efforts to cool down overheated economic sectors are producing results, according to the latest money supply figures from the central bank's Shanghai headquarters, which were released yesterday.

Renminbi lending at the city's domestic banks slowed again last month, with the value of new loans increasing by just 40 percent of the average monthly increase for the first half of the year, as a result of a string of macro-control measures launched this year.

The figures are widely seen as a reflection of the national trend, as the Beijing-based People's Bank of China is expected to release national figures for July soon.