China Nov new bank loans rise to 1.27 trln yuan, but below forecast

  • 12/9/2021
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Chinese banks extended 1.27 trillion yuan ($200.19 billion) in new yuan loans in November, up from October but falling short of analysts" expectations. Analysts polled by Reuters had predicted new yuan loans would rise to 1.56 trillion yuan in November from 826.2 billion yuan the previous month and against 1.43 trillion yuan a year earlier. Broad M2 money supply grew 8.5% from a year earlier, central bank data showed on Thursday, below estimates of 8.7% forecast in the Reuters poll. M2 grew 8.7% in October from a year ago. Outstanding yuan loans grew 11.7% in November from a year earlier compared with 11.9% growth in October. Analysts had expected 11.9% growth. ($1 = 6.3439 Chinese yuan renminbi) Reporting by Judy Hua and Kevin Yao; Editing by Kim Coghill Our Standards: The Thomson Reuters Trust Principles.

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