China’s October Financial Data Spell More Economic Woes: Analysts

China’s financial figures for October indicate that its economic slowdown may continue into 2025, market analysts said. According to data released this week by China’s central bank, new bank loans fell sharply in October, while outstanding total social financing—which measures the flow of credit from the financial market into the real economy—slowed to a record low. Analysts told The Epoch Times that the figures suggest that Beijing’s series of stimulus measures have failed to boost the confidence of businesses, consumers, and lenders so far. According to The Epoch Times’ analysis of data published by the People’s Bank of China, China’s banks issued 500 billion yuan (about $70 billion) in new yuan loans in October. This is a 69 percent drop from September’s 1.59 trillion yuan (about $220 billion) and 200 billion yuan ($28 billion) lower than expected, according to economists polled by Reuters....