CHINESE banks extended 948.7 billion yuan (US$142.23 billion) in net new yuan loans in August, exceeding analysts’ expectations and more than double the previous month’s lending of 463.6 billion yuan.

    Broad M2 money supply (M2) grew 11.4 percent from a year earlier, the central bank said yesterday, also beating forecasts.

    Outstanding yuan loans grew at 13 percent by month-end on an annual basis.

    Analysts polled by Reuters had expected new lending of 750 billion yuan, with outstanding loans seen rising 12.9 percent, and money supply seen up 10.4 percent.(SD-Agencies)