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China's New Loans, Aggregate Finance To Decline In Oct - Daily

CHINA PRESS
MNI (Singapore)

China’s new yuan loans and aggregate finance may see a seasonal decline in October after banks accelerated lending at the end of Q3 to meet regulatory requirement, thereby satisfying some of October's demand, the Securities Daily reported citing Wang Qing, chief analyst at Golden Credit Rating. Wang estimated new loans will reach CNY930 billion, compared to September’s CNY2.47 trillion, while aggregate finance may slow to CNY1.4 trillion from the previous CNY3.53 trillion, the newspaper said. New loan growth will continue to be supported by increased medium- and long-term corporate bonds amid government support for infrastructure and manufacturing investment, but weak spending remains a drag on mortgage and consumer loans, Wang was cited as saying. The central bank is set to release the latest financing data between November 11-15.

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