China's new bank loans rose in September – Forex

According to a Reuters survey of 30 economists, new bank loans in China rose in September. More than a year ago, chinese regulators' measures to increase bank lending and reduce corporate financing costs have not yielded the desired results as credit growth has remained weak and economic activity has shown a further slowdown. Experts believe that this situation is caused by a protracted trade dispute between the U.S. and China, which lowered business and consumer confidence. The survey showed that China's banks increased lending volumes by 16% in September compared to August to 1.4 trillion yuan. At the same time, the volume of new loans in annual terms has hardly changed. At the same time, economists who participated in the survey expect a slowdown in the growth of outstanding loans in September, which will be observed for 6 months in a row. In annual terms, the figure is likely to fall to 12.3% from 12.4% a month earlier. This will be the lowest growth rate since July 2002. Total social financing is also expected to decline to 1.8 trillion yuan from August.