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China's Bank Lending, Money Supply Increase In March

Chinese banks extended CNY 1.01 trillion new loans in March, data from the People's Bank of China showed Thursday. March's lending was well above the consensus forecast of CNY 797.5 billion.

The broadest measure of money supply, M2 rose at a pace of 13.4 percent year-on-year in March. Economists were expecting the growth rate to remain steady at 13 percent.

China's foreign exchange reserves, the world's largest, rose to $3.31 trillion at the end of March, from $3.18 trillion at the end of December.

by RTT Staff Writer

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