New Loans in China Fall Below Expectations

Forex - Chinese banks issued 500 billion yuan in new loans in October. New loans saw a sharp decline in October compared to September, falling short of analysts' expectations. Analysts had predicted that new yuan loans would decrease to 700 billion yuan in October from 1.59 trillion yuan in September. In the first 10 months, new loans amounted to 16.52 trillion yuan, below the expectation of 16.72 trillion yuan.