China September new bank loans rise to 1.29 trillion yuan, below forecast

BEIJING, Oct 15 (Reuters) - Chinese banks extended 1.29 trillion yuan ($181.06 billion) in new loans in September, rising from 590 billion yuan in August, according to Reuters calculations based on data from the People's Bank of China (PBOC) on Wednesday.

Analysts polled by Reuters had expected September new yuan loans would reach 1.47 trillion yuan, compared with 1.59 trillion yuan a year earlier. Lending in China typically picks up in September due to seasonal factors.

The central bank does not provide monthly breakdowns. Reuters calculated the September figures based on the bank's January-September data, compared with the January-August figure.

($1 = 7.1247 Chinese yuan renminbi)