BEIJING, Oct. 14 – Chinese banks lent 1.9 trillion yuan ($ 282.3 billion) in new yuan loans in September compared with August, beating analysts’ expectations.
Analysts polled by Reuters had predicted that new yuan lending would rise to 1.7 trillion yuan in September as the economy continued to recover, from 1.28 trillion yuan in the previous month, but broadly in line with 1.69 trillion yuan last year.
M2 broad money supply rose 10.9% yoy in September, the central bank data showed on Wednesday, beating the 10.4% estimates forecast in Reuters poll, which was the pace of August corresponded.
Yuan outstanding loans increased 13% year over year, unchanged from August earnings. Analysts had expected growth of 12.9%. ($ 1 = 6.7313 Chinese yuan) (Reporting by Lusha Zhang and Ryan Woo; Editing by Jacqueline Wong).