China Sees Worst Credit Growth in a Year as Demand Dries Up

China’s credit expansion was the weakest in more than a year last month, dragged down by slower government bond sales and sluggish borrowing demand across the economy.

Aggregate financing, a broad measure of credit, increased 815 billion yuan ($115 billion) in October, according to Bloomberg calculations based on data released by the People’s Bank of China on Thursday. That’s the lowest level since July 2024 and well short of the 1.2 trillion-yuan forecast by economists in a Bloomberg survey.