China's October lending weak despite capital injection

China’s banks issued only RMB548.3 billion in new loans in October, down from 857.2 billion the month prior, The Wall Street Journal reported, citing a report from the People’s Bank of China (PBOC). China’s social financing this month totaled RMB662.7 billion down from RMB1.05 trillion in September, with M2, China’s broadest measure of money supply, growing 12.6% at the end of October year-over-year, lower than the 12.9% rise at the end of September. Economic deceleration is making banks more wary of lending and companies are increasingly reluctant to borrow or invest, economists said.