China June new bank loans rise to 2.12 trln yuan, beat expectations

BEIJING, July 9 (Reuters) - Chinese banks extended 2.12 trillion yuan ($327 billion) in new yuan loans in June, up from May and exceeding analysts’ expectations.

Analysts polled by Reuters had predicted new yuan loans would rise to 1.8 trillion yuan in June from 1.5 trillion yuan the previous month and against 1.81 trillion yuan a year earlier.

Broad M2 money supply grew 8.6% from a year earlier, central bank data showed on Friday, also above estimates of 8.2% forecast in the Reuters poll. M2 grew 8.3% in May from a year ago.

Outstanding yuan loans grew 12.3% from a year earlier compared with 12.2% growth in May. Analysts had expected 12.1% growth. ($1 = 6.4855 Chinese yuan renminbi) (Reporting by Stella Qiu, Judy Hua and Kevin Yao Editing by Gareth Jones)