Credit Expansion To Support Financing Growth In Q4 - Times

Credit expansion in infrastructure, manufacturing and real estate is expected to provide ongoing strong support for growth in credit and total social financing in Q4, the Securities Times reported after new loans and aggregate finance rebounded more than expected in September. Continued pro-growth efforts are required and the central bank could consider guiding the benchmark Loan Prime Rate down further and cutting the reserve requirement ratio, the newspaper said. Policies aimed at encouraging manufacturers to upgrade their equipment helped drive a near CNY1.35 trillion increase in medium and long-term loans, accounting for a significant portion of total new loans of CNY2.47 trillion, the newspaper said citing Minsheng Bank chief economist Wen Bin. Growth in household sector borrowing indicated a recovery in consumer confidence, Wen added.