According to market insiders, China's new loans in October will drop to the range of 300 to 400 billion yuan, China Business News reported Tuesday.

Historic data shows that, each year, October'new loans tend to stand at the lowest level of the second half of the year or even the whole year. For example, new loans were only at 136.1 and 181.9 billion yuan in the October of 2007 and 2008, respectively, both being the lowest credit growth of those years.

The following are some of the estimates given by analysts of the banking industry. ?

· Around 300 billion yuan?-- E Yongjian, Finance Research Center of Bank of Communications;

· 300 – 400 billion yuan?-- Fixed Income Department of China International Capital Co., Ltd.;

· 250 – 350 billion yuan?-- Lu Zhengwei, Chief Economist of Industrial Bank ;

· 380 – 420 billion yuan?-- Li Zhiping, macro-economy analyst of Pudong Development Bank.