China's new yuan lending hits 548.3 bln yuan in Oct

China's new yuan-denominated lending in October hit 548.3 billion yuan (89.3 billion U.S. dollars), up 42.3 billion yuan year on year, latest data showed on Friday.

Total social financing in October hit 662.7 billion yuan, a sharp drop of 472.8 billion yuan compared with September. It also represented a fall of 201.8 billion yuan compared with the same period last year, according to data released by the People's Bank of China, the central bank.