January 16, 2020 / 7:29 AM / 4 days ago

China Dec new bank loans fall to 1.14 trln yuan, below forecast, but M2 jumps

BEIJING, Jan 16 (Reuters) - Chinese banks extended 1.14 trillion yuan ($165.45 billion) in new yuan loans in December, down slightly from November and falling short of analysts’ expectations.

Analysts polled by Reuters had predicted new yuan loans would fall to 1.194 trillion yuan in December, from 1.39 trillion yuan in the previous month and compared with 1.08 trillion yuan a year earlier.

Broad M2 money supply in December grew 8.7% from a year earlier, central bank data showed on Thursday, above estimates of 8.3% and quickening from 8.2% growth in November.

Outstanding yuan loan grew 12.3% from a year earlier compared with 12.4% growth in November. Analysts had expected 12.4%.

The central bank is widely expected to keep its policy supportive despite recent signs of improvement in the economy as Sino-U.S. trade tensions ease. Economic growth cooled to 6% in the third quarter, the slowest in nearly 30 years. ($1 = 6.8903 Chinese yuan renminbi) (Reporting by Judy Hua and Kevin Yao; Editing by Kim Coghill)

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