Chinese Banks Issued $194.4 Billion New Loans in December, Less Than Expected
Chinese banks issued 1.26 trillion yuan ($194.4 billion) worth of new yuan loans in December, lower than market expectations, official data released Tuesday showed.
Economists polled by The Wall Street Journal expected CNY1.3 trillion of new loans in December. In November, new loans stood at CNY1.43 trillion.
Total social financing, a broader measurement of credit in the economy that includes both bank loans and nonbank financing, was CNY1.72 trillion in December, down from CNY2.13 trillion in November.
China’s broadest measure of money supply, M2, was down 10.1% at the end of December compared with a year earlier, lower than the 10.7% rise at the end of November. The figure was below the median 10.6% increase forecast by the WSJ poll.
Source: Dow Jones