(Repeats to attach to alerts)
BEIJING, April 14 Chinese banks extended 1.02
trillion yuan ($148.14 billion) in net new yuan loans in March,
below analysts' expectations.
Analysts polled by Reuters had predicted new yuan loans of
1.25 trillion yuan, up from 1.17 trillion yuan in February.
Broad M2 money supply (M2) grew at 10.6 percent from a year
earlier, central bank data showed on Friday, missing forecasts
for an expansion of 11.1 percent.
The growth of M2 money supply in March was the slowest
year-on-year growth since July 2016, People's Bank of China data
Outstanding yuan loans grew at 12.4 percent by month-end on
an annual basis.
Analysts polled by Reuters had expected outstanding loans to
rise by 12.7 percent.
China's banks extended a record 12.65 trillion yuan of loans
in 2016 as the government encouraged credit-fueled stimulus to
meet its economic growth target. But the credit explosion
fuelled worries about financial risks from a rapid build-up in
debt, which authorities have pledged to contain this year.
($1 = 6.8855 Chinese yuan renminbi)
(Reporting by Cheng Fang and Beijing Monitoring Desk; Editing
by Richard Borsuk and Kim Coghill)