China's Yuan Loans Rise 10.44 Trillion Yuan in Jan-Aug as Credit Growth Slows to 4.9%
Updated
Updated · Xinhua · Sep 14
China's Yuan Loans Rise 10.44 Trillion Yuan in Jan-Aug as Credit Growth Slows to 4.9%
3 articles · Updated · Xinhua · Sep 14
Summary
10.44 trillion yuan in new yuan loans was added in the first eight months of 2026, taking outstanding loans to 282.35 trillion yuan by end-August.
4.9% year-on-year loan growth marked a record-low pace, with August new lending at just 60 billion yuan and missing forecasts as household and corporate borrowing stayed weak.
356.81 trillion yuan in M2 at end-August was up 7.5% from a year earlier, while M1 rose 4.1% to 115.77 trillion yuan, pointing to still-expanding liquidity despite soft credit demand.
Beijing has increasingly leaned on fiscal support, including government bond issuance, as monetary data show banks are struggling to translate ample liquidity into stronger lending.