BEIJING : Chinese banks extended 3.98 trillion yuan in new yuan loans in January, rising sharply from December to a record high and beating analyst expectations.
Analysts polled by Reuters had predicted new yuan loans would soar to 3.69 trillion yuan in January, up from 1.13 trillion yuan in December and compared with 3.58 trillion yuan a year earlier. Broad M2 money supply in January grew 9.8per cent from a year earlier, central bank data showed on Thursday, above estimates of 9.2per cent forecast in the Reuters poll. It rose 9.0per cent in December.
Outstanding yuan loan grew 11.5per cent from a year earlier compared with 11.6per cent growth in December. Analysts had expected 11.6per cent growth.
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