BEIJING (Reuters) - Chinese banks made 711.3 billion yuan ($116.2 billion) worth of new yuan loans in August, higher than a forecast of 700 billion yuan and above the previous month’s 699.9 billion yuan, central bank data showed on Tuesday.
The broad M2 money supply grew 14.7 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 the forecast in a Reuters poll of a 14.4 percent rise.
Outstanding yuan loans grew 14.1 percent from a year earlier, in line with forecasts for a growth of 14.1 percent.
The central bank also said China’s total social financing aggregate, a broad measure of liquidity in the economy, rose to 1.57 trillion yuan in August versus 808.8 billion yuan the month before.
China economics team