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BEIJING May 12 Chinese banks extended 1.1
trillion yuan ($159.4 billion) in net new yuan loans in April,
above analysts' expectations.
Analysts polled by Reuters had predicted new yuan loans of
714 billion yuan, down from 1.02 trillion yuan in March.
Broad M2 money supply (M2) grew 10.5 percent from a year
earlier, central bank data showed on Friday, missing forecasts
for an expansion of 10.8 percent.
Outstanding yuan loans grew at 12.9 percent by month-end on
an annual basis.
Analysts polled by Reuters had expected outstanding loans to
rise by 12.5 percent.
China's banks extended a record 12.65 trillion yuan in loans
in 2016 as the government encouraged credit-fueled stimulus to
meet its economic growth target.
The credit explosion stoked worries about financial risks
from a rapid build-up in debt, which authorities have pledged to
contain this year.
($1 = 6.9029 Chinese yuan)
(Reporting by Beijing Monitoring Desk and Kevin Yao; Editing by