Chinese banks issued more loans in June than in the prior month, but the amount still fell short of market expectations as credit demand stayed weak, official data showed Friday.
New yuan loans stood at 2.13 trillion yuan ($293.47 billion) in June, up from CNY950 billion in May, according to calculations by The Wall Street Journal based on data from the People's Bank of China.
The result was below the CNY2.4 trillion expected by economists in a Wall Street Journal poll.
Total social financing, which also includes non-bank credit, stood at CNY3.3 trillion in June, compared with CNY2.06 trillion in May, official data showed.
M2, the broadest measure of money supply, rose 6.2% from a year earlier in June, the data showed. That compares with a 7.0% increase in May and is well below the 6.8% anticipated by the surveyed economists.
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(END) Dow Jones Newswires
07-12-24 0540ET
