China May new bank loans rise to 1.5 trln yuan, beat expectations

BEIJING, June 10 (Reuters) – Chinese banks extended 1.5 trillion yuan ($234.76 billion) in new yuan loans in May, up from April and exceeding analysts’ expectations.

Analysts polled by Reuters had predicted new yuan loans would dip to 1.41 trillion yuan in May from 1.47 trillion yuan the previous month and against 1.48 trillion yuan a year earlier.

Broad M2 money supply grew 8.3% from a year earlier, central bank data showed on Thursday, above estimates of 8.1% forecast in the Reuters poll, which matched the pace in April.

Outstanding yuan loans grew 12.2% from a year earlier compared with 12.3% growth in April. Analysts had expected 12.2% growth.

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