CH New Loans

China’s credit expansion unexpectedly slowed in November from a year ago despite strong government bond sales and stimulus measures, underscoring faltering demand for financing. • Aggregate financing, a broad measure of credit, increased 2.34 trillion yuan, according to Bloomberg calculations based on data released by the People’s Bank of China on Friday. That compares with a median forecast of 2.7 trillion yuan by economists in a Bloomberg survey, and an increase of 2.5 trillion yuan in the same month a year ago. • Financial ...

New bank lending in China tumbled more than expected to a three-month low in October, as a ramp-up of policy stimulus to buttress a wavering economy failed to boost credit demand. Chinese banks extended 500 billion yuan ($69.51 billion) in new yuan loans in October, down sharply from September and falling short of analysts' expectations, according to data released by the People's Bank of China (PBOC). Economists polled by Reuters had predicted a fall in new yuan loans to 700 billion yuan last month from 1.59 trillion yuan the ...

China's credit data has been very weak for most of the year, and we attribute this to two factors. First, a lack of private sector investment has held back lending to non-financial corporates, while lower household borrowing demand has resulted from fewer new mortgages amid the property market slump and a decline in big-ticket purchases funded by consumer loans. Second, despite China’s relatively low nominal interest rates, real interest rates have remained too high for the current economic conditions. It is still early days and ...

New aggregate financing slowed to RMB 770.8bn in July. This brings the year-to-date new increase of aggregate financing to RMB 18.87tn, which represents a 14.6% year-on-year decline. Subcategories of aggregate financing were mixed on the month. In general, loan activity was weak in July. New RMB loans fell into contraction at RMB 770.8bn, lowering the year-to-date new increase of RMB loans to RMB 12.38tn, a 20.9% YoY decline. Foreign currency loans were also weak in July, falling RMB 88.9bn to bring the year-to-date level to a ...

Chinese banks extended 260 billion yuan ($36.26 billion) in new yuan loans in July, down from the previous month and undershooting analysts' forecasts, highlighting weak demand as a prolonged property downturn and job insecurity drag on business and consumer confidence. Analysts polled by Reuters had expected new yuan loans would come in at 450 billion yuan last month, down sharply from 2.13 trillion yuan the previous month but more than the 345.9 billion yuan a year earlier. The People's Bank of China (PBOC) does not provide monthly ...