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China’s Bank Loan Growth Tapers as Year-End Approaches

By Dong Tongjian
The ongoing deleveraging campaign within China's financial system has continued curbing the expansion in M2, the broadest measurement of the country's money supply, in October. Photo: Visual China
The ongoing deleveraging campaign within China's financial system has continued curbing the expansion in M2, the broadest measurement of the country's money supply, in October. Photo: Visual China

(Beijing) — The growth of China’s broadest measure of new credit in October fell short of what analysts expected as some of the country’s largest commercial lenders have already used up their respective annual loan quotas.

Total social financing — the broadest measure of credit, which includes bond and equity issuance, trust loans and entrusted loans — stood at 1.04 trillion yuan ($156.6 billion) in October, the People’s Bank of China (PBOC) said on Monday. It was down from 1.82 trillion yuan in September but was still higher than the 886.5 billion yuan reported in October 2016.

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