Chinese banks issued just $30.95b (RMB 0.22t) in new loans in October 2025 — a steep decline from September’s $181.5b (RMB 1.29t), according to UOB Kay Hian.
The slump was driven largely by household lending, which fell by $50.65b (RMB 360b). This included a $40.38b (RMB 287b) contraction in short-term borrowing and a RMB 70b drop in long-term household loans.
Growth in outstanding bank loans slowed further to 6.5% year-on-year (down 0.1 percentage point), while total social financing (TSF) growth eased to 8.5% year-on-year (down 0.2 percentage point). Analysts at UOBKH said the latest figures underscore persistently weak credit demand.
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