China Feb new loans fall to 885.8 bln yuan, below forecasts
A pull-back in February had been widely expected as Chinese banks tend to front-load loans at the beginning of the year to get higher-quality customers and win market share. Broad M2 money supply grew 8.0 percent in February from a year earlier, below forecasts, central bank data showed on Sunday. Analysts had expected a 8.4 percent rise in M2 - unchanged from January.
Outstanding yuan loans grew 13.4 percent from a year earlier, matching expectations and unchanged from January's rise. Analysts say China needs to revive weak credit growth to help head off a sharper economic slowdown this year, but investors are worried about a further jump in corporate debt and the risk to banks as they relax their lending standards. ($1 = 6.7201 Chinese yuan renminbi) (Reporting by Ryan Woo and Lusha Zhang; Editing by Michael Perry)
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
- READ MORE ON:
- Bad bank
- Chase Bank
- Azealia Banks
- Advocacy group
- War film
- Gross domestic product
- Chinese school
- Chinese characters
- Chinese zodiac
- Companies House
- Companies Office
- Moving company
- Systems analyst
- Business Analyst
- Financial Analyst
- Institutional investor
- Angel investor
- Investors Bank
- Customer Service
- Customers Bank