Data from the People’s Bank of China (the central bank) showed a significant rise in bank lending in China during the past month.
Total new yuan loans in September rose to 1.29 trillion yuan, compared to 590 billion yuan in August. Aggregate social financing at the end of September reached 3.53 trillion yuan. The broad money supply, known as M2, grew by 8.4 percent year-on-year in September.
China’s consumer prices fell 0.3 percent last month, exceeding expectations, due to weak domestic demand and an oversupply. Meanwhile, producer prices remained under deflationary pressure for the 36th consecutive month.
