China Credit Growth Climbs as Targeted Easing Kicks In
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China’s broadest measure of new credit rose to a three-month high in September as the central bank’s targeted measures to boost liquidity helped spur lending.
Aggregate financing was 1.05 trillion yuan ($171 billion), the People’s Bank of China said today in Beijing, compared with the 1.15 trillion yuan median estimate in a Bloomberg survey of economists. New local-currency loans were 857.2 billion yuan, and M2 money supply grew 12.9 percent from a year earlier. Foreign reserves were $3.89 trillion at Sept. 30.