Household loans fell by 202.9 billion yuan in August, with short-term and medium-to-long-term loans both contracting

Central bank data show that household loans decreased by 202.9 billion yuan in August, of which short-term loans fell by 121.9 billion yuan and medium-to-long-term loans fell by 82.2 billion yuan. Both the short and long ends declined simultaneously, indicating that residents are neither buying homes nor borrowing to finance consumption.