Chinese banks extended $238.92b loans in September

This exceeded analysts’ expectations of $197.9b.

Reuters reports that Chinese banks extended $238.92b (CNY1.69t) in new loans in September, exceeding analysts expectations that it would hit only $197.9b (CNY1.4t) and up from $171.1b (CNY1.21t) recorded in the previous month.

Also read: Chinese bank loans up to $170b in August as stimulus kicks in

Broad M2 money supply—money supply that includes M1 plus savings and time deposits, certificates of deposits, and money market funds—grew 8.4% YoY, central bank data revealed. This is above estimates of 8.2% forecast in a Reuters poll, which would have been unchanged from August.

Outstanding yuan loans expanded 12.5% YoY compared with August’s 12.4%. Analysts had expected a slight contraction to 12.3%.

Despite a flurry of growth-boosting measures since last year, including a push by regulators to ramp up lending, China’s economic growth has slowed to near 30-year lows due to sluggish domestic demand and the escalating trade tensions, both of which weigh on business confidence and investment.

Here’s more from Reuters.

Also Read

Improved lending to MSMEs needed: central banker

Taiwanese banks' loans to SMEs reach $314.57b in September

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit