By Liz Lee and Kevin Yao

BEIJING (Reuters) – New bank loan issuance in China likely more than doubled in September, a Reuters poll showed on Thursday, possibly lifted by seasonal factors even as slowing government financing and weak demand overhung the market.

Chinese banks are expected to have issued around 1.472 trillion yuan ($206.6 billion) in net new yuan loans last month, according to the average of 22 economists’ estimates in a Reuters poll. Analysts, however, continue to flag slowing government bond issuance as a sign of weaker credit growth, a trend Capital Economics expected to have continued in September.

“While net issuance of new bank loans is likely to have increased substantially in month-on-month terms in September, that’s only because of the seasonal pattern. Weak priva

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