BEIJING (Reuters) – Chinese banks extended 3.98 trillion yuan ($626 billion) in new yuan loans in January, rising sharply from December to a record high and beating analyst expectations.
Analysts polled by Reuters had predicted new yuan loans would soar to 3.69 trillion yuan in January, up from 1.13 trillion yuan in December and compared with 3.58 trillion yuan a year earlier.
Broad M2 money supply in January grew 9.8% from a year earlier, central bank data showed on Thursday, above estimates of 9.2% forecast in the Reuters poll. It rose 9.0% in December.
Outstanding yuan loan grew 11.5% from a year earlier compared with 11.6% growth in December. Analysts had expected 11.6% growth.
($1 = 6.3578 Chinese yuan renminbi)
(Reporting by Judy Hua and Kevin Yao; Editing by Raissa Kasolowsky)
