- Prior +8.4%
- New yuan loans ¥220.0 billion vs ¥500.0 billion expected
- Prior ¥1.29 trillion
New bank loans underwhelmed in October after a modest pickup in September and is a miss on estimates once again. This continues to underscore that private demand conditions remain weak and Beijing still has a tall task in trying to stimulate credit growth in order to prop up the economy. That despite the seemingly better outlook implied by the stock market this year. The year-to-date total for new bank loans now stand at ¥14.97 trillion, which will surely fall short of the ¥18.1 trillion total in the whole of 2024.
