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China Jan new bank loans beat forecast at 1.3 tln yuan
February 15, 2014 / 8:46 AM / in 4 years

China Jan new bank loans beat forecast at 1.3 tln yuan

BEIJING, Feb 15 (Reuters) - Chinese banks lent 1.32 trillion yuan ($217.6 billion) worth of new yuan loans in January, beating a forecast of 1.1 trillion yuan and well above the previous month’s 482.5 billion yuan in a traditional lending surge at the start of the year.

Central bank data showed on Saturday that the broad M2 money supply rose 13.2 percent last month from a year earlier, the People’s Bank of China said in a statement on its website, in line with a Reuters poll forecast of a 13.2 percent rise.

Outstanding yuan loans were up 14.3 percent from a year earlier versus forecasts for growth of 13.9 percent.

The central bank also said China’s total social financing aggregate, a broad measure of liquidity in the economy, was 2.58 trillion yuan in January versus 1.23 trillion yuan the month before. ($1 = 6.0668 Chinese yuan) (Reporting by Koh Gui Qing; Editing by Jeremy Laurence)

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