BEIJING (Reuters) – Chinese banks extended 1.13 trillion yuan ($177.56 billion) in new yuan loans in December, down from November and falling short of analysts’ expectations.
Analysts polled by Reuters had predicted new yuan loans would fall to 1.25 trillion yuan in December from 1.27 trillion yuan the previous month and against 1.26 trillion yuan a year earlier.
Broad M2 money supply grew 9.0% from a year earlier, central bank data showed on Wednesday, above estimates of 8.7% forecast in the Reuters poll. M2 grew 8.5% in November from a year ago.
Outstanding yuan loans grew 11.6% in December from a year earlier compared with 11.7% growth in November. Analysts had expected 11.7% growth.
($1 = 6.3642 Chinese yuan renminbi)
(Reporting by Judy Hua and Kevin Yao; Editing by Kim Coghill)
