China Sept new bank loans rise to 1.59 trillion yuan, below forecast
New yuan loans totalled 16.02 trillion yuan for the first nine months of the year
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CHINESE banks extended 1.59 trillion yuan (S$293.3 billion) in new yuan loans in September, up from August but falling short of analysts’ expectations as the central bank escalates support measures to stabilise the faltering economy.
Analysts polled by Reuters had predicted new yuan loans would rise to 1.87 trillion yuan last month from 900 billion yuan the previous month and against 2.31 trillion yuan a year earlier.
The People’s Bank of China (PBOC) does not provide monthly breakdowns, but Reuters calculated the September figures based on the bank’s Jan-September data released on Monday (Oct 14), compared with the Jan-August figure.
The PBOC said new yuan loans totalled 16.02 trillion yuan for the first nine months of the year. REUTERS
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