New bank lending in China is expected to have plunged in October from the prior month, but the yuan loans are likely to be higher than a year earlier, a Reuters poll showed, as the central bank treads warily on policy easing amid stagflation concerns.
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Chinese banks are estimated to have issued 800 billion yuan (US$125.04 billion) in net new yuan loans last month, down from 1.66 trillion yuan in September, according to the median estimate in the survey of 26 economists.
That would be higher than 689.8 billion yuan issued in the same month a year earlier.
Central Bank Governor Yi Gang said last month that growth of China's money supply and total social financing were largely in line with nominal GDP growth, and liquidity is ample.
The People's Bank of China (PBOC) will likely move cautiously on loosening monetary policy to bolster the economy, as slowing economic growth and soaring factory inflation fuel concerns over stagflation, policy sources and analysts said.
A few Chinese banks have sped up the disbursement of home loans in some cities, but no wave of new credit is being unleashed just yet amid a heavy regulatory push to deleverage the sector.
Momentum is faltering in the world's second-largest economy due to fresh curbs to control COVID-19 outbreaks, power shortages that have hit factories and a debt crisis in the real estate sector, among other factors that have gummed up activity.