Logo 17 Oct 2025

Credit growth slows in September

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Credit growth slowed for the second consecutive month in September.
Per central bank (PBoC) data released Wednesday, outstanding total social financing (TSF) expanded 8.7% y/y across the month – down from 8.8% growth in August.

Outstanding RMB loans rose just 6.6% y/y – down from 6.8% in ...