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在线翻译:
szdaily -> Business -> 
June new loans surge, above expectations
    2018-07-16  08:53    Shenzhen Daily

BANKS in China extended 1.84 trillion yuan (US$274.91 billion) in net new yuan loans in June, up considerably from the previous month and beating analysts’ expectations, as policymakers step up support for the economy.

Analysts polled previously had predicted new June yuan loans of 1.6 trillion yuan, significantly higher than May’s 1.15 trillion yuan. China’s banks extended a record 13.53 trillion yuan in new loans last year.

Broad M2 money supply grew 8 percent in June from a year earlier, central bank data showed Friday, missing forecasts for an expansion of 8.3 percent and compared with 8.3 percent in May.

June’s M2 growth was the lowest since at least January 1996.

The People’s Bank of China has said a slowdown in M2 growth could be a “new normal” due to official deleveraging efforts in the financial system.

Outstanding yuan loans in June grew 12.7 percent from a year earlier, faster than an expected 12.5 percent and almost the same as May’s 12.6-percent rise.

Household loans, mostly mortgages, rose to 707.3 billion yuan in June from 614.3 billion yuan in May, according to the central bank’s data.

Household loans accounted for 38.4 percent of total new loans in June, versus 53.4 percent in May.

Corporate loans rose to 981.9 billion yuan in June from 525.5 billion yuan a month earlier.

The world’s second-largest economy has already felt the pinch from a multi-year campaign to reduce debt risks, especially in the financial system, that has driven up corporate borrowing costs.

A recent poll showed China’s gross domestic product growth was expected to ease marginally. Second-quarter GDP data will be released today.

Last month, China’s central bank announced its third reserve requirement ratio cut this year, releasing 700 billion yuan in liquidity, in an effort to accelerate the pace of debt-for-equity swaps and spur lending to smaller firms.

China’s total social financing (TSF), a broad measure of credit and liquidity in the economy, rose sharply to 1.18 trillion yuan in June from 760.8 billion yuan in May, central bank data showed.

That can provide hints of activity in China’s shadow banking sector, which authorities have also been targeting in their campaign to reduce systemic risks.(SD-Agencies)

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