Chinese banks extended 1.15 trillion yuan ($179.58 billion) in net new yuan loans in May, below analysts’ expectations. Analysts polled by Reuters had predicted new yuan loans of 1.2 trillion yuan, up slightly from April’s 1.18 trillion yuan. Broad M2 money supply grew 8.3 percent in May from a year earlier, central bank data showed on Tuesday, missing forecasts for an expansion of 8.5 percent and compared with 8.3 percent in April. Outstanding yuan loans grew 12.6 percent from a year earlier, slower than an expected 12.7 percent rise and compared with a rise of 12.7 percent in April. China’s banks extended a record ... (full story)