AsianFin--China's bank lending sharply declined in July, reaching its lowest level in nearly 15 years, as weak credit demand and seasonal factors took a toll, raising expectations for further easing measures from the central bank.

Chinese banks issued 260 billion yuan ($36.28 billion) in new loans last month, a nearly 88% drop from June and falling short of analysts' predictions, according to data released by the People's Bank of China on Tuesday.