August 9, 2013 / 8:11 AM / 7 years ago

China July new bank loans, money supply above forecasts

BEIJING, Aug 9 (Reuters) - Chinese banks made 699.9 billion yuan ($114.3 billion) worth of new yuan loans in July, higher than a forecast of 665 billion yuan but below the previous month’s 860.5 billion yuan, central bank data showed on Friday.

The broad M2 money supply grew 14.5 percent last month from a year earlier, the People’s Bank of China said in a statement on its website, www.pbc.gov.cn, above a forecast in a Reuters poll of a 14.1 percent rise.

Outstanding yuan loans grew 14.3 percent from a year earlier versus forecasts for growth of 14.2 percent.

The central bank also said China’s total social financing aggregate, a broad measure of liquidity in the economy, was 808.8 billion yuan in July versus 1.04 trillion yuan the month before. ($1 = 6.1225 Chinese yuan) (China economics team)

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