City skyline in China

China Money October 2019

China: New yuan loans fall to 22-month low in October

In October, Chinese banks distributed CNY 661 billion (USD 94.6 billion) in new yuan loans, well below the CNY 1.69 trillion recorded in September and the CNY 800 billion that market analysts had expected. The print was the lowest reading since December 2017. In the 12 months up to October, new yuan loans totaled CNY 16.6 trillion (12 months to September: CNY 16.7 trillion).

Meanwhile, annual growth in M2—the broadest measure of money supply in China—stabilized at September’s 8.4% in October. The print matched the result that market analysts had expected.

Total social financing (TSF)—a broader measure of credit and liquidity in the economy that includes loans, bonds and other non-traditional instruments—plummeted from CNY 2.27 trillion in September to CNY 619 billion in October. Market analysts had expected a softer decline in TSF to CNY 1.0 trillion.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest