BEIJING: Chinese banks lent 1.32 trillion yuan ($217.6 billion) worth of new yuan loans in January, beating a forecast of 1.1 trillion yuan and well above the previous month's 482.5 billion yuan in a traditional lending surge at the start of the year.
Central bank data showed on Saturday that the broad M2 money supply rose 13.2 percent last month from a year earlier, the People's Bank of China said in a statement on its website, in line with a Reuters poll forecast of a 13.2 percent rise.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
