China’s Credit Growth Still Weak in October With Low Loan Demand
- Lending slowed, with households taking out fewer mortgages
- Governments sold 2.6 trillion yuan in bonds in last two months
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China’s credit growth remained steady in October, with a big jump in government bond sales to finance stimulus compensating for weak business and household borrowing as well as a large contraction in shadow financing.
The flow of aggregate financing, a broad measure of credit, was 1.85 trillion yuan ($254 billion), the People’s Bank of China said Monday. That missed economists’ expectations of a 1.95 trillion yuan increase.