China’s outstanding loan growth slowed marginally in September 2026, with the year-over-year expansion rate edging down to 4.8%, compared with 4.9% in August 2026. The figures, updated on 14 October 2026, indicate a modest deceleration in credit growth across the banking system.
On a year-over-year basis, the “actual” reading for September reflects how total outstanding loans compared with the same month a year earlier, while the “previous” figure for August shows that month’s growth relative to August a year earlier. The slight decline from 4.9% to 4.8% suggests that overall credit conditions remained broadly stable, with only a minor cooling in the pace at which loans are expanding in China’s economy.
