China's outstanding yuan loans up 13.5 pct in April, M2 money supply by 8.5 pct

Chinese banks extended 1.02 trillion yuan ($150.16 billion) in net new yuan loans in April, less than analysts had expected and down from March. Analysts polled by Reuters had predicted new yuan loans of 1.2 trillion yuan in April, down from a sharp 1.69 trillion yuan in the previous month.

Broad M2 money supply in April grew 8.5 per cent from a year earlier, central bank data showed on Thursday, in line with estimates by analysts polled by Reuters, and slightly lower than an 8.6 per cent rise in March. Outstanding yuan loans grew 13.5 per cent from a year earlier. Analysts had expected 13.6 per cent, slightly lower than March's 13.7 per cent.