China renewed a 70 bln yuan (9.81 bln USD) bilateral currency swap with the Bank of Thailand, China’s PBoc kept lending rates at record lows in August, holding the 1-year LPR at 3.0% and 5-year LPR at 3.5% for a third straight month. The decision follows weakening data: July industrial output grew at its slowest in eight months, retail sales hit their weakest since Dec 2024, and new yuan loans fell for the first time in 20 years. While overall credit growth improved slightly, the PBOC pledged to maintain a moderately loose stance and fine-tune policy to support the economy.