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China Sept new yuan loans 1.22 trillion yuan, well above forecasts
October 18, 2016 / 7:16 AM / a year ago

China Sept new yuan loans 1.22 trillion yuan, well above forecasts

BEIJING, Oct 18 (Reuters) - Chinese banks extended 1.22 trillion yuan ($181 billion) in net new yuan loans in September, well above analysts’ expectations and up from 948.7 billion yuan in August.

Broad M2 money supply (M2) grew 11.5 percent from a year earlier, the central bank said on Wednesday, slightly below forecasts but edging up from 11.4 percent in August.

Outstanding yuan loans grew by 13 percent by month-end on an annual basis.

Analysts polled by Reuters had expected new lending of 1 trillion yuan, with outstanding loans seen rising 12.9 percent, and money supply seen up 11.6 percent. (Reporting by Elias Glenn; Editing by Kim Coghill)

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