The People's Bank of China (PBOC) in Beijing. — Bloomberg
BEIJING: Chinese banks extended 990 billion yuan ($135.05 billion) in new yuan loans in December, up from November and outpacing analysts' forecast as credit demand grew buoyant from the government's stimulus measures.
Twenty analysts polled by Reuters had predicted new yuan loans would rise to 800 billion yuan last month, from 580 billion yuan in November and compared with 1.17 trillion yuan a year earlier.
The People's Bank of China (PBOC) does not provide monthly breakdowns but Reuters calculated the December figures based on the bank's January-December data released on Tuesday, compared with the January-November figure.
The PBOC said new yuan loans totalled 18.09 trillion yuan for 2024. - Reuters
