China’s banks extended 2.99 trillion yuan (HK$3.43 tillion) in new yuan loans in March, surging from 900 billion yuan in February but missing analysts’ forecasts, according to Reuters calculations based on data released by the People’s Bank of China (PBOC).
Analysts polled by Reuters had expected new yuan loans would stand at 3.4 trillion yuan last month.
The PBOC does not provide monthly breakdowns. Reuters calculated the March figure based on the bank’s January-March data released on Monday, compared with the January-February figure.
Outstanding yuan loans grew 5.7 percent in March from a year earlier, slower than 6.0 percent in February. Analysts had expected 5.9 percent growth.
Reuters
