Analysts polled by Reuters had predicted new loans would drop to 800 billion yuan (US$121 billion). October new loans hit the lowest since the same month last year, when the tally was 661.3 billion yuan. Photo: Bloomberg Analysts polled by Reuters had predicted new loans would drop to 800 billion yuan (US$121 billion). October new loans hit the lowest since the same month last year, when the tally was 661.3 billion yuan. Photo: Bloomberg
Analysts polled by Reuters had predicted new loans would drop to 800 billion yuan (US$121 billion). October new loans hit the lowest since the same month last year, when the tally was 661.3 billion yuan. Photo: Bloomberg

China bank loans down to lowest in a year, but broader credit growth quickens

  • Lenders issued 689.8 billion yuan (US$104.3 billion) in new yuan loans last month, data from the People’s Bank of China (PBOC) showed on Wednesday
  • This was down from 1.9 trillion yuan in September, but broad M2 money supply in October grew 10.5 per cent from a year earlier

Topic |   China economy
Analysts polled by Reuters had predicted new loans would drop to 800 billion yuan (US$121 billion). October new loans hit the lowest since the same month last year, when the tally was 661.3 billion yuan. Photo: Bloomberg Analysts polled by Reuters had predicted new loans would drop to 800 billion yuan (US$121 billion). October new loans hit the lowest since the same month last year, when the tally was 661.3 billion yuan. Photo: Bloomberg
Analysts polled by Reuters had predicted new loans would drop to 800 billion yuan (US$121 billion). October new loans hit the lowest since the same month last year, when the tally was 661.3 billion yuan. Photo: Bloomberg
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