Chinas bank lending declined sharply in October as demand slowed amid property market downturn and weaker economic activity, data published by the Peoples Bank of China showed. Banks extended CNY 615.2 billion in new yuan loans in October compared to CNY 2.47 trillion in September. Total social financing, a broad measure of credit and liquidity in the economy, decreased significantly to CNY 907.9 billion from CNY 3.53 trillion in September. Data showed that broad M2 money supply increased 11.8 percent annually, slower than the 12.1 percent growth in September.Powered by Commodity Insights
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