BEIJING, March 9 (Reuters) - Chinese banks extended 839.3 billion yuan ($132.4 billion) in net new yuan loans in February, the central bank said on Friday, below analysts’ expectations and down from the previous month.
Analysts polled by Reuters had predicted new yuan loans of 900 billion yuan, down sharply from January’s record 2.9 trillion yuan.
Broad M2 money supply grew 8.8 percent in February from a year earlier, beating forecasts for an expansion of 8.7 percent and compared with 8.6 percent in January.
Outstanding yuan loans grew 12.8 percent from a year earlier, marginally slower than an expected 12.9 percent rise and compared with a rise of 13.2 percent in January.
China’s total social financing (TSF), a broad measure of credit and liquidity in the economy, fell to 1.17 trillion yuan in February from 3.06 trillion yuan in January. ($1 = 6.3389 Chinese yuan renminbi) (Reporting by Beijing Monitoring Desk and Ryan Woo Editing by)