The level of new loans was the weakest since December 2017. Photo: AP

China’s new bank loans drop to lowest level in almost two years in October as manufacturers feel the pinch

  • Banks extended 661.3 billion yuan (US$94.5 billion) in net new loans last month, sharply down from 1.69 trillion yuan (US$241.5 billion) in September
  • National aggregate financing at the end of last month totalled 618.9 billion yuan (US$88.5 billion), down from 2.27 trillion yuan (US$324.4 billion) in September
Topic |   China economy

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The level of new loans was the weakest since December 2017. Photo: AP
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Karen Yeung

Karen Yeung

Karen Yeung joined the Post in 2017 after more than 15 years' experience on global newswires in Hong Kong and Shanghai. She spent eight years in Shanghai and has received awards for best feature, analysis and agenda-setting.