BEIJING Nov 12 China's M2 measure of money
supply grew 14.1 percent in October from a year earlier, below
market expectations for a 14.5 percent rise, central bank data
showed on Monday.
China's outstanding yuan loans in October rose by 15.9
percent from a year earlier, the central bank said in a
statement on its website, www.pbc.gov.cn, below the 16.1 percent
consensus forecast in a benchmark Reuters poll.
Earlier on Monday the People's Bank of China published data
showing Chinese banks extended 505.2 billion yuan ($81.5
billion) of new local currency loans in October. Market
expectations were for 600 billion yuan.
It also revealed that China's total social financing
aggregate, a broad measure of liquidity, stood at 1.29 trillion
yuan in October, down from 1.65 trillion yuan in September.
China's central bank has said it would prioritise supporting
the economy above other needs, affirming expectations that the
recovery in the Chinese growth engine has been feeble at
It has cut interest rates twice this year and also lowered
banks' required reserves ratio three times since November.
(Reporting By Beijing Economics Team; Editing by Nick Edwards)