January 15, 2014 / 2:41 AM / in 4 years

China Dec bank lending, money supply growth miss forecasts

BEIJING, Jan 15 (Reuters) - Chinese banks made 482.5 billion yuan ($79.9 billion) worth of new yuan loans in December, lower than a forecast of 600 billion yuan and lower than the previous month’s 624.6 billion yuan, central bank data showed on Wednesday.

The broad M2 money supply rose 13.6 percent last month from a year earlier, the People’s Bank of China said, missing the forecast in a Reuters poll of a 13.8 percent rise.

Outstanding yuan loans rose 14.1 percent from a year earlier versus forecasts for growth of 14.3 percent.

The central bank also said China’s total social financing aggregate, a broad measure of liquidity in the economy, was 1.23 trillion yuan in December was unchanged from 1.23 trillion yuan the month before.

China’s foreign exchange reserves, the world’s largest, hit $3.82 trillion at the end of December from $3.66 trillion at the end of September. ($1 = 6.0412 Chinese yuan) (China economics team)

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