China’s January New Loans Miss Forecasts

2026-02-13 09:25 By Chusnul Chotimah 1 min. read

China’s banks extended CNY 4,710 billion in new yuan loans in January 2026, sharply higher than CNY 910 billion in December 2025 but below the CNY 5,130 billion recorded a year earlier and market expectations of around CNY 5,000 billion, highlighting that credit demand remains weak even though the government has launched stimulus measures to boost domestic demand.

Total social financing, a broad gauge of credit and liquidity, rose to CNY 7,220 billion, up from CNY 2,210 billion in December and CNY 7,055 billion a year earlier, surpassing market forecasts of CNY 7,050 billion.

Outstanding loans grew 6.1%, marking a fresh record low and remaining well below the 7.5% pace seen a year ago, as well as slightly below market expectations of 6.2%.



News Stream
China’s January New Loans Miss Forecasts
China’s banks extended CNY 4,710 billion in new yuan loans in January 2026, sharply higher than CNY 910 billion in December 2025 but below the CNY 5,130 billion recorded a year earlier and market expectations of around CNY 5,000 billion, highlighting that credit demand remains weak even though the government has launched stimulus measures to boost domestic demand. Total social financing, a broad gauge of credit and liquidity, rose to CNY 7,220 billion, up from CNY 2,210 billion in December and CNY 7,055 billion a year earlier, surpassing market forecasts of CNY 7,050 billion. Outstanding loans grew 6.1%, marking a fresh record low and remaining well below the 7.5% pace seen a year ago, as well as slightly below market expectations of 6.2%.
2026-02-13
China New Yuan Loans Beat Expectations
Chinese banks extended CNY 910 billion in new yuan loans in December 2025, sharply higher than CNY 390 billion in November. Although lending remained below the CNY 990 billion recorded a year earlier, it exceeded market expectations of around CNY 800 billion, underscoring the impact of policy-based financing tools and government stimulus measures that are beginning to support credit demand. Total social financing, a broad gauge of credit and liquidity, rose to CNY 2,210 billion, down from CNY 2,490 billion in November and CNY 2,860 billion a year earlier. Outstanding loan growth held steady at a record-low 6.4%, well below the 7.6% pace seen a year ago but slightly above market expectations of 6.3%.
2026-01-15
China New Yuan Loans Remain Subdued
Chinese banks extended CNY 390 billion in new yuan loans in November 2025, up from CNY 220 billion in October but below both last year’s CNY 580 billion and market expectations of CNY 500 billion. The data indicate that credit demand remains weak, as soft household demand continues to weigh on stimulus efforts. Meanwhile, total social financing, a broad measure of credit and liquidity in the economy, rose to CNY 2490 billion, above October’s CNY 810 billion and last year’s CNY 2340 billion. Loan growth also slowed to 6.4%, a new low since at least 1998, down from 6.5% in the previous period and 7.7% a year earlier.
2025-12-12