China's new bank loans likely rose in September but other key gauges of cre...
BEIJING - China’s new bank loans likely rose in September but other key gauges of credit growth remained lackluster, a Reuters poll showed, reinforcing expectations Beijing needs to deliver more support to stabilize the economy as trade pressures build.
Chinese banks are expected to have issued 1.4 trillion yuan in net new yuan loans last month, up 16% from 1.21 trillion yuan in August but largely in line with the tally in September last year, according to a median estimate in a Reuters survey of 30 economists.But growth of outstanding loans was expected to decelerate for a sixth straight month.
But despite repeated calls by regulators to help struggling smaller, private firms, banks have been reluctant to lend as such firms are considered bigger credit risks. Some factory managers have told Reuters they have lost financing or had their credit lines sharply cut back. Net issuance of local government bonds are estimated to fall notably as the provincial authorities are already close to exhausting their annual bond quotas.
Moody’s Investors Service said in a recent report that China’s shadow banking assets were near 3-year lows.
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