China's new bank lending almost doubled in September, supported by infrastructure-related financing and multiple policies aimed at boosting economic growth amid the weak property sector and resurgence of COVID-19.

Chinese banks' new yuan loans increased by 2.47 trillion yuan (about $347.5 billion) in September, compared with 1.25 trillion yuan in August, according to data released by the central bank on Tuesday.

The new loans last month were much better than expected but still showed differentiation in the structure, according to a note from Guosheng Securities released on Wednesday.

Loans to residents, in the short-, medium- and long-term, have continued to grow slowly, showing that the consumption and property sectors are still under pressure, the note said.

In September, loans to residents, including mortgages, increased to 650.3 billion yuan from 458 billion yuan in August, but still below the level a year earlier of 788.6 billion yuan, according to central bank data.

Considering the new policies to encourage property purchases released at the end of September, activity in the real estate sector may be boosted later, the note said.

New medium-to-long-term corporate loans were the major contributor to bank loans in September, as regulators urged banks to step up long-term lending to sectors such as infrastructure and real estate, according to a note from Nomura Securities.

Corporate loans jumped to 1.92 trillion yuan from 875 billion yuan after China distributed an additional 300 billion yuan allocated for infrastructure projects at the end of September.

In the first three quarters of this year, new yuan loans totaled 18.08 trillion yuan, up 1.36 trillion yuan year on year, official data showed.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 12.1 percent year on year to 262.66 trillion yuan at the end of last month, central bank data showed.