China’s credit expansion picked up far more than expected in January from a year ago, even as a record jump in new bank loans failed to reverse an entrenched slowdown in demand for financing.

New bank loans in China surged more than expected to a record high in January as the central bank moved to shore up a patchy economic recovery, reinforcing expectations for more stimulus in coming months as U.

In an effort to bolster a patchy economic recovery, new bank loans in China have soared beyond expectations to a record high in January. This move by the central bank strengthens expectations for additional stimulus in the coming months,