China Aug new yuan loans 948.7 bln yuan, well above expectations

September 14, 2016 8:15 AM

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BEIJING, Sept 14 Chinese banks extended 948.7 billion yuan ($142.23 billion) in net new yuan loans in August, exceeding analysts' expectations and more than double the previous month's lending of 463.6 billion yuan.

Broad M2 money supply (M2) grew 11.4 percent from a year earlier, the central bank said on Wedneday, also beating forecasts.

Also read: China issues $722 bln in new mortgages to individuals in 2016

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