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China March new yuan loans 1.02 trln yuan, less than expected

Friday, Apr 14 2017
China March new yuan loans 1.02 trln yuan, less than expected

Chinese banks extended 1.02 trillion yuan ($148.14 billion) in net new yuan loans in March, below analysts' expectations. Analysts polled by Reuters had predicted new yuan loans of 1.25 trillion yuan, up from 1.17 trillion yuan in February.

Broad M2 money supply (M2) grew at 10.6 percent from a year earlier, central bank data showed on Friday, missing forecasts for an expansion of 11.1 percent. The growth of M2 money supply in March was the slowest year-on-year growth since July 2016, People's Bank of China data showed. Outstanding yuan loans grew at 12.4 percent by month-end on an annual basis.

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