China April new bank loans fall to 1.47tr yuan, below forecast

13-May-2021 Intellasia | Reuters | 5:02 AM Print This Post

Chinese banks extended 1.47 trillion yuan ($228.21 billion) in new yuan loans in April, down from March and missing analysts’ expectations.

Analysts polled by Reuters had predicted new yuan loans would drop to 1.6 trillion yuan in April, down from 2.73 trillion yuan the previous month and against 1.7 trillion yuan a year earlier.

Broad M2 money supply grew 8.1 percent from a year earlier, central bank data showed on Wednesday, below estimates of 9.3 percent forecast in the Reuters poll. It rose 9.4 percent in March.

Outstanding yuan loans grew 12.3 percent from a year earlier compared with 12.6 percent growth in March. Analysts had expected 12.5 percent growth.

($1 = 6.4415 Chinese yuan renminbi)


Category: China

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