* Nov new loans 624.6 bln yuan vs forecast 590 bln yuan
* Nov social financing 1.23 trln yuan vs Oct 856.4 bln
* Nov M2 +14.2 pct yr/yr vs forecast +14.2
BEIJING, Dec 11 New bank lending in China
quickened in November and a broad measure of liquidity
accelerated sharply, adding to signs the economy is regaining
momentum and relieving market fears of monetary policy
Banks made 624.6 billion yuan ($102.88 billion) worth of new
yuan loans in November, higher than a forecast of 590 billion
yuan and well above the previous month's 506.1 billion yuan,
data released on Wednesday by the People's Bank of China showed.
China's total social financing aggregate, a broad measure of
liquidity in the economy, jumped to 1.23 trillion yuan in
November versus 856.4 billion yuan the month before.
Rising money market rates and bond yields indicate the
central bank is committed to deleveraging the economy by tapping
the brakes on liquidity conditions, but there is little sign of
a sharp turnaround in monetary policy.
"China's money and credit showed steady growth in November,
reflecting robust demand for credit as the economy is on track
for recovery," said Jiang Chao, analyst at Haitong Securities in
"We expect total new yuan loans for this year to reach 9
trillion yuan and the annual figure for next year will be around
9-9.5 trillion yuan."
The broad M2 money supply rose 14.2 percent last month from
a year earlier, the central bank said in a statement on its
website, www.pbc.gov.cn, in line with the forecast in a Reuters
M2 growth this year looks almost certain to surpass the
central bank's target of 13 percent. It is widely expected to
stick with the same target in 2014.
Outstanding yuan loans rose 14.2 percent from a year earlier
versus forecasts for growth of 14.1 percent.
Earlier data showed China's annual inflation unexpectedly
eased to 3 percent in November, cooling market fears of any
imminent policy tightening as authorities meet this week to
outline their policy and reform priorities for 2014.
Growth in China's factory output and investment eased
slightly in November while retail sales grew at their strongest
rate this year, suggesting the economy is on track to achieve
the government's 7.5 percent growth target this year.
In addition, exports handily beat forecasts, adding to
recent evidence of stabilisation in the world's second-largest