Chinese banks extended a record high of 2.51 trillion yuan (US$385.40 billion) of new loans in January, well above market expectations, while growth in broad money supply also quickened to a 19-month high, central bank data showed on Tuesday (Feb 16). Analysts attributed the lending spike to increased cash injections by the central bank ahead of the Lunar New Year holidays in early February, a traditional tendency among Chinese banks to "front load" loans at the start of a year and reduced foreign borrowings. "The increase is partly seasonal – lending always jumps at the start of the year when banks are issued ... (full story)