FX.co ★ China’s Outstanding Loan Growth Eases to 4.7% in October, Continuing Moderation Trend

China’s outstanding loan growth slowed slightly in October 2026, underscoring a continued moderation in credit expansion across the economy. Year-over-year growth in outstanding loans eased to 4.7% in October, down from 4.8% in September, according to data updated on 13 November 2026.

The figures are based on year-over-year comparisons, with the October reading measuring growth versus October a year earlier, while the September figure reflects the change against September a year earlier. The marginal deceleration suggests that although credit is still expanding, the pace of loan growth is losing momentum, which may reflect softer borrowing demand or a more cautious lending stance among Chinese financial institutions. Investors and policymakers will be watching subsequent months’ data to gauge whether this trend persists and what it implies for China’s broader economic trajectory.