China’s new bank loans rise to 2.12 trillion yuan in June, beating expectations

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BEIJING, July 9. (Reuters) – Chinese banks provided 2.12 trillion yuan ($ 327 billion) in new yuan-denominated loans in June compared to May, beating analysts’ expectations.

Analysts polled by Reuters predicted that new yuan-denominated loans would rise to 1.8 trillion yuan in June from 1.5 trillion yuan in the previous month, up from 1.81 trillion yuan a year earlier.

Broad money M2 rose 8.6% from a year ago, central bank data showed on Friday, also beating Reuters’ forecasts by 8.2%. M2 rose 8.3% in May over last year.

Outstanding RMB loans rose 12.3% year-over-year, compared with a 12.2% rise in May. Analysts had expected an increase of 12.1%. ($ 1 = RMB 6.4855) (Reporting by Stella Qiu, Judy Hua and Kevin Yao, editing by Gareth Jones)

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