06/14/2024 – 7:50
China’s banks increased lending last month, but at a weaker pace than expected. In May, Chinese banks released 950 billion yuan ($130.99 billion) in new loans, an amount above the total of 730 billion yuan transferred in April, according to calculations by the The Wall Street Journal based on data published this Friday, 14th, by the PBoC, as the country’s central bank is known.
The May figure, however, was below the expectations of analysts consulted by WSJwhich predicted 1.2 trillion yuan in new loans.
Total social financing, a broader measure of credit in the Chinese economy, totaled 2.07 trillion yuan in May, after contracting by 200 billion yuan in April.
China’s monetary base (M2), in turn, had an annual increase of 7% in May, losing strength compared to the 7.2% increase in April. The market projection for the last month was an increase of 7.1%. Source: Dow Jones Newswires.
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