China's new yuan-denominated lending in October hit 548.3 billion yuan ($89.3 billion), 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.