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China's credit growth dropped to 2-year low in October



China's credit growth slowed more than expected in October, at least the weakest growth since October 2017.

According to data from the Central Bank of China (PBOC) on Monday, new loans in yuan totaled 661.3 billion yuan. Exceeding the median expectation of 800 billion yuan from the Bloomberg survey

Reduced bonds and prolonged holidays helped slow credit growth.

Total financing in China was 618.9 billion yuan ($ 88 billion). It was 2.27 trillion yuan in September and 737.4 billion yuan in October 2018.

The median estimate of the economists participating in the Bloomberg survey was 950 billion yuan.

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