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China's New Yuan Loans Contracted in October

Provided by Dow Jones Nov 13, 2026, 10:38:00 AM

China's new yuan loans contracted in October, as weakening domestic demand continued to weigh on credit demand, according to official data released on Friday.

Chinese banks recorded a net drop of 100 billion, equivalent to $15 billion, of new loans in October, compared with growth of 1.08 trillion yuan in September, according to the data released by the People's Bank of China. A loan contraction suggests credit repayments exceeded borrowing.

The decline fell short of expectations of growth of 10 billion yuan forecast in a poll by The Wall Street Journal.

Total social financing, a measure that also includes non-bank credit, stood at 1.15 trillion yuan in October.

M2, the broadest measure of money supply, rose 7.1% on year in October, down from September's 7.2%, said the PBOC. Economists expected M2 to be at 7.3%.

Write to Singapore Editors at singaporeeditors@dowjones.com

(END) Dow Jones Newswires

November 13, 2026 05:38 ET (10:38 GMT)

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