Economic news

China’s May new bank loans surge 1.89 trln yuan, much stronger than forecasts

2022.06.10 11:36

China's May new bank loans surge 1.89 trln yuan, much stronger than forecasts
FILE PHOTO: Chinese 100 yuan banknotes are seen in a counting machine while a clerk counts them at a branch of a commercial bank in Beijing, China, March 30, 2016. REUTERS/Kim Kyung-Hoon

BEIJING (Reuters) – Chinese banks extended 1.89 trillion yuan ($282.62 billion) in new yuan loans in May, rebounding sharply from April and beating analysts’ expectations as policymakers try to reverse a sharp, COVID-induced economic slump.

Analysts polled by Reuters had predicted new yuan loans would surge to 1.3 trillion yuan in May from 645.4 billion yuan the previous month and against 1.5 trillion yuan a year earlier.

Broad M2 money supply grew 11.1% from a year earlier, central bank data showed on Friday, above estimates of 10.4% forecast in the Reuters poll. M2 grew 10.5% in April from a year ago.

Outstanding yuan loans grew 11.0% in May from a year earlier compared with 10.9% growth in April. Analysts had expected 10.7% growth.

($1 = 6.6875 Chinese yuan renminbi)

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,962.51 0.95%
ethereum
Ethereum (ETH) $ 3,442.71 1.34%
tether
Tether (USDT) $ 1.00 0.31%
solana
Solana (SOL) $ 256.47 1.02%
bnb
BNB (BNB) $ 674.80 1.01%
xrp
XRP (XRP) $ 1.51 5.52%
dogecoin
Dogecoin (DOGE) $ 0.433956 1.53%
usd-coin
USDC (USDC) $ 1.00 0.29%
cardano
Cardano (ADA) $ 1.07 2.09%
staked-ether
Lido Staked Ether (STETH) $ 3,446.65 1.59%
avalanche-2
Avalanche (AVAX) $ 47.12 13.55%
tron
TRON (TRX) $ 0.211697 1.44%
stellar
Stellar (XLM) $ 0.53672 5.20%
the-open-network
Toncoin (TON) $ 6.21 0.45%
shiba-inu
Shiba Inu (SHIB) $ 0.000026 0.84%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,062.54 0.65%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,668.44 0.67%
polkadot
Polkadot (DOT) $ 9.14 3.52%
chainlink
Chainlink (LINK) $ 18.65 7.54%
bitcoin-cash
Bitcoin Cash (BCH) $ 527.81 4.29%
weth
WETH (WETH) $ 3,435.97 0.99%
sui
Sui (SUI) $ 3.47 1.11%
pepe
Pepe (PEPE) $ 0.00002 0.35%
near
NEAR Protocol (NEAR) $ 6.92 6.39%
leo-token
LEO Token (LEO) $ 8.18 5.90%
litecoin
Litecoin (LTC) $ 98.71 0.53%
uniswap
Uniswap (UNI) $ 11.71 7.30%
aptos
Aptos (APT) $ 12.75 1.72%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,620.31 1.01%
internet-computer
Internet Computer (ICP) $ 12.34 7.85%
hedera-hashgraph
Hedera (HBAR) $ 0.146489 1.83%
usds
USDS (USDS) $ 1.00 0.36%
crypto-com-chain
Cronos (CRO) $ 0.190509 2.00%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.577028 1.84%
ethereum-classic
Ethereum Classic (ETC) $ 29.65 1.03%
render-token
Render (RENDER) $ 8.15 3.63%
bittensor
Bittensor (TAO) $ 539.21 2.43%
kaspa
Kaspa (KAS) $ 0.157064 3.43%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.52 0.72%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.22%
arbitrum
Arbitrum (ARB) $ 0.878542 2.03%
bonk
Bonk (BONK) $ 0.000048 3.68%
whitebit
WhiteBIT Coin (WBT) $ 24.52 0.76%
vechain
VeChain (VET) $ 0.043543 0.91%
dai
Dai (DAI) $ 1.00 0.26%
celestia
Celestia (TIA) $ 8.11 13.35%
filecoin
Filecoin (FIL) $ 5.74 0.50%
cosmos
Cosmos Hub (ATOM) $ 8.78 1.19%
okb
OKB (OKB) $ 56.06 0.14%
blockstack
Stacks (STX) $ 2.24 7.32%