China May new bank loans fall to 1.48 trln yuan, below forecast

BEIJING, June 10 (Reuters) – Chinese banks extended 1.48 trillion yuan ($209.47 billion) in new yuan loans in May, central bank data showed on Wednesday, down from April and falling short of analyst expectations.

Analysts polled by Reuters had predicted new yuan loans would fall to 1.50 trillion yuan in May from 1.70 trillion yuan the previous month, and compared with 1.18 trillion yuan a year earlier.

Broad M2 money supply in May grew 11.1% from a year earlier, data showed, below estimates of 11.3% forecast in the Reuters poll. It rose 11.1% in April.

Outstanding yuan loans grew 13.2% from a year earlier compared with 13.1% growth in April. Analysts had expected 13.2% growth. ($1 = 7.0653 Chinese yuan) (Reporting by Judy Hua and Kevin Yao; Editing by Jacqueline Wong)

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