China’s Credit Growth Disappoints as Lending Lags Bond Sales
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China’s credit expansion slowed more than expected in October, as a surge in government bond sales far exceeded growth in lending during a traditionally slow month for financing activity.
Aggregate financing, a broad measure of credit, increased 1.4 trillion yuan ($195 billion), according to Bloomberg calculations based on data released by the People’s Bank of China on Monday. That compares with a median forecast of 1.5 trillion yuan by economists in a Bloomberg survey, and an increase of 1.8 trillion yuan in the same month a year ago.