China's credit growth slowed in October, new bank loans hit lowest in a year

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China's credit growth slowed more than expected in October, with new bank loans hitting their lowest in a year, dragged by slower government bond sales and seasonal factors in October when businesses were shut because of public holidays.

Banks granted 689.8 billion yuan ($104.22 billion) in new yuan loans last month, showed data from the People’s Bank of China (PBOC) on Wednesday, down from 1.9 trillion yuan in September and falling short of 800 billion yuan expected by analysts in a Reuters poll.

October new loans hit the lowest since . . .

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