Chinese banks issued 1.12 trillion yuan ($169.3 billion) of new yuan loans in November, up from 663.2 billion yuan in October and above economists’ expectations, data from the People’s Bank of China showed on Monday.
Newly extended loans in November beat the 850 billion yuan forecast by a Wall Street Journal poll of 11 economists.
Total social financing, a broader measurement of credit in the economy, came to 1.6 trillion yuan in November, up from 1.04 trillion yuan in October.
China’s broadest measure of money supply, M2, was up 9.1% at the end of November compared with a year earlier, higher than the 8.8% rise at the end of October.
The figure was above the median 8.9% increase forecast by the poll of economists.
Source: Dow Jones