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)