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September saw new loans amounting to 1.29 trillion yuan ($181.06 billion), compared to 590 billion yuan in August. Analysts had anticipated a figure closer to 1.47 trillion yuan, falling short of expectations. The year-over-year comparison with 1.59 trillion yuan from the previous year further underscored this discrepancy. The performance in lending, contrary to the seasonal uptick, signifies a downward trend in the credit cycle. Xing Zhaopeng, ANZ's senior China strategist, highlighted, "September's data confirms that the current credit cycle has passed its peak, and the growth rates of aggregate financing and M2 may continue to decline." Outstanding yuan loans exhibited…
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