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China's lending in July below market expectations
By Feng Jianmin |
August 12, 2011, Friday
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Online Edition
Online Edition
BANKS in China extended fewer new loans than expected in July and China's money supply grew the least in nearly two years as the government's tightening policies took effect.
China's new yuan-backed loans stood at 492.6 billion yuan (US$77 billion) in July, a 25.2 billion yuan decrease from a year before, the People's Bank of China said today.
It was less than the Reuter's median forecast of 550 billion yuan in a poll and June's 633.9 billion yuan.
M2, the broadest measure of money supply, rose 14.7 percent year-on-year, down from June's 15.9 percent, the central bank said on its website.
China's new yuan-backed loans stood at 492.6 billion yuan (US$77 billion) in July, a 25.2 billion yuan decrease from a year before, the People's Bank of China said today.
It was less than the Reuter's median forecast of 550 billion yuan in a poll and June's 633.9 billion yuan.
M2, the broadest measure of money supply, rose 14.7 percent year-on-year, down from June's 15.9 percent, the central bank said on its website.
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