China's new yuan-denominated loans fell to 679 billion yuan in October from 1.38 trillion yuan in September, according to data from the People's Bank of China.
Compared with the same month a year ago, loans increased by 33.8 billion yuan.
Meanwhile, the broad M2 money supply, which covers cash in circulation and all deposits, grew 8% year over year to 179.56 trillion yuan at the end of October.
As of Nov. 12, US$1 was equivalent to 6.96 Chinese yuan.
