Cash at Chinese banks swells to record high as borrowing slows

Lenders are carrying $9.4tn more in deposits than they have out in loans A shopping mall in Beijing. Falling home prices have generated a persistent negative wealth effect that continues to weigh on Chinese consumers. BEIJING — Cash is piling up in China's banking system as businesses and households cut back on borrowing amid mounting economic uncertainty fueled by escalating tensions in the Middle East and a yearslong property downturn.

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