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China Nov new loans 1.12 trln yuan, well above expectations
Chinese banks extended 1.12 trillion yuan ($169.27 billion) in net new yuan loans in November, well above analysts’ expectations and the previous month. Analysts polled by Reuters had predicted new yuan loans would rise to 800 billion yuan, from October’s 663.2 billion yuan. Broad M2 money supply (M2) in November grew 9.1 percent from a year earlier, central bank data showed on Monday, beating forecasts for an expansion of 8.9 percent. Outstanding yuan loans at the end of November grew 13.3 percent from a year earlier, faster than an expected 13 percent rise. China’s banks have doled out a total of 12.94 ... (full story)