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China's Apr new bank loans miss expectations, govt bond drives credit expansion

Source: Mysteel May 15, 2025 12:00

China's new bank loans fell short of market expectations, with cooling consumer loans triggering volatility in short-term lending, while a notably faster pace of government bond issuance driving the increase in the overall credit expansion.

Chinese banks extended Yuan 10.06 trillion ($1.39 trillion) of new loans in the first four months of 2025, and total social financing (TSF) grew by Yuan 16.34 trillion, which is Yuan 3.61 trillion more than a year earlier, according to data released by the People's Bank of China (PBOC)