China’s new bank loans fell to 1.47 trillion yuan in April, below forecast

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Chinese 100 yuan banknotes are visible on the tally machine as a clerk counts them at a commercial bank branch in Beijing, China, March 30, 2016 REUTERS / Kim Kyung-Hoon

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)

Our standards: Thomson Reuters Trust Principles.

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