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China May new bank loans at 870.8 bln yuan
June 12, 2014 / 8:10 AM / 3 years ago

China May new bank loans at 870.8 bln yuan

BEIJING, June 12 (Reuters) - Chinese banks made 870.8 billion yuan ($140.08 billion) worth of new yuan loans in May, higher than a forecast of 750 billion yuan and above the previous month’s 774.7 billion yuan, central bank data showed on Thursday.

The broad M2 money supply rose 13.4 percent last month from a year earlier, the People’s Bank of China said in a statement on its website, www.pbc.gov.cn, slightly above the forecast in a Reuters poll of a 13.1 percent rise.

Outstanding yuan loans grew 13.9 percent from a year earlier versus forecasts for growth of 13.7 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 May versus 1.55 trillion yuan the month before.

$1 = 6.2165 Chinese Yuan Renminbi China economics team

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