November 16, 2018 / 3:17 AM / a month ago

China cbank tells lenders to manage pace, intensity of credit supply

BEIJING, Nov 16 (Reuters) - Chinese financial institutions should take steps to reasonably manage the pace and intensity of credit supply, the central bank said on Friday, following a sharp slowdown in credit growth last month.

Chinese banks extended 697 billion yuan ($100.41 billion) in net new yuan loans in October. Analysts polled by Reuters had predicted new loans of 862 billion yuan, down from 1.38 trillion yuan in September.

Banks are wary of a fresh spike in bad loans after years of pressure from regulators to reduce riskier lending. ($1 = 6.9412 Chinese yuan renminbi) (Reporting by Ryan Woo; Editing by Kim COghill)

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