Chinese banks provided 1.47 trillion yuan ($ 228.21 billion) in new loans in April compared to March and fell short of analysts’ expectations.
Analysts polled by Reuters predicted that new yuan-denominated loans would fall to 1.6 trillion yuan in April, up from 2.73 trillion yuan in the previous month and 1.7 trillion yuan a year earlier.
Broad money M2 rose 8.1% from a year ago, central bank data showed Wednesday, below Reuters’ forecasts of 9.3%. In March, it grew by 9.4%.
Outstanding RMB loans rose 12.3% year-over-year, up from 12.6% growth in March. Analysts had expected growth of 12.5%.
(1 US dollar = 6.4415 RMB)
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