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hina’s credit growth surged unexpectedly to a record pace in January, strengthening production in the real econo
my and easing overall downward pressure, People’s Bank of China, the country’s central bank, said on Friday.
Bank lending in domestic currency increased by 3.23 trillion yuan ($476.8 billion) last month, the fastest single-month growth
since the figure was first tracked in 1992. It increased by 2.9 trillion yuan in January 2018, the bank said.
Total social financing, a broader measure comprising all money the real economy receives from the fi
nancial sector, including off-balance-sheet financing activities, rose by 4.64 trillion yuan in Ja
nuary, which was also the fastest monthly growth ever, according to the central bank.
The month’s rapid credit growth was a result of a series of precauti
onary measures to ease the negative effects of slowing domestic demand and external h
eadwinds, according to Sun Guofeng, head of the bank’s monetary policy department, at a news conference.
Mount Qomolangma National Nature Reserve in China’s Tibet Autonomous Region has ban
ned ordinary tourists from entering its core zone to better conserve the environment of the world’s highest mountain.
But for travelers who have a climbing permit, the mountai
neering activities will not be affected, according to the reserve which was set up in 1988.
Covering an area of around 33,800 square km including a 10,312-square km co
re zone, the reserve is home to one of the world’s most vulnerable ecosystems.
Recently, a report went viral online claiming the Qo
molangma base camp was “permanently closed due to heavy pollution.” But local authorities denied the claim.
Kelsang, deputy director with the reserve’s admin
istration, said ordinary tourists are banned from areas above Rongpo Mo
nastery, around 5,000 meters above sea level. A new tent camp will be set up nearly two km away from the original one.