October 14, 2013 / 8:12 AM / 6 years ago

RPT-China Sept new bank loans above forecast, FX reserves rise

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BEIJING, Oct 14 (Reuters) - Chinese banks made 787 billion yuan ($128.6 billion) worth of new yuan loans in September, higher than a forecast of 650 billion yuan and more than the previous month’s 711.3 billion yuan, central bank data showed on Monday.

The broad M2 money supply rose 14.2 percent last month from a year earlier, the People’s Bank of China said in a statement on its website, www.pbc.gov.cn, in line with the forecast in a Reuters poll of a 14.2 percent rise.

Outstanding yuan loans rose 14.3 percent from a year earlier versus forecasts for growth of 14 percent.

The central bank also said China’s total social financing aggregate, a broad measure of liquidity in the economy, was 1.4 trillion yuan in September versus 1.57 trillion yuan the month before.

China’s foreign exchange reserves, the world’s largest, stood at $3.66 trillion at the end of September, up from $3.5 trillion at the end of the previous quarter. ($1 = 6.1206 Chinese yuan) (China economics team)

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