Chinese banks extended RMB 992.7 billion ($142.82 billion) in new RMB loans in July, down from June and falling short of analysts’ expectations, reported Reuters.
Analysts polled by Reuters had predicted new yuan loans would fall to RMB 1.20 trillion in July, down from RMB 1.81 trillion in the previous month and compared with RMB 1.06 trillion a year earlier.
Broad M2 money supply in July grew 10.7% from a year earlier, central bank data showed on Tuesday, below estimates of 11.1% forecast in the Reuters poll. It rose 11.1% in June.
Outstanding RMB loan grew 13.0% from a year earlier compared with 13.2% growth in June. Analysts had expected 13.2% growth.