New loans extended by banks on the mainland fell to 532.8 billion yuan (HK$610.86 billion) last month as the authorities kept lending in check after last year's binge.
The amount was down from the 603.4 billion yuan extended in June and lower than the 600 billion yuan expected by many economists.
The data released by the People's Bank of China yesterday indicated that curbs on lending were being maintained to achieve the 7.5 trillion yuan target for the full year, a 22 per cent drop from the 9.6 trillion yuan in last year's lending spree to help stimulate the economy.
Loans extended in the first seven months of this year totalled 5.16 trillion yuan, nearly 70 per cent of the full-year target.
At the end of last month, outstanding loans grew 18.4 per cent.
The growth of M2 money, which includes cash and all deposits, eased to 17.6 per cent year on year from 18.5 per cent in June, the central bank said.
