China's new lending in September rises less than expected despite stimulus

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China's new lending in September rises less than expected despite stimulus - Business Standard

Quick Summary:

The PBOC said new yuan loans totalled 16.02 trillion yuan for the first nine months of the year.

Broad M2 money supply grew 6.8% from a year earlier, central bank data showed, above analysts' forecast of 6.4% forecast in the Reuters poll.M2 grew 6.3% in August from a year ago.

Last week, the head of China's state planner said the country was "fully confident" of achieving the 2024 growth target but refrained from introducing stronger fiscal steps, disappointing investors who had bet that more policy support will be needed to get the economy back on solid footing.