China's new local currency loans exceeded economists' expectations in April, but it fell from March, data showed Friday.
The new yuan denominated loans extended by Chinese banks totaled CNY 792.9 billion in April, the People's Bank of China said. Economists had forecast lending to fall to CNY 767.5 billion from CNY 1.06 trillion in March.
The M2 broad measure of money supply, that covers cash in circulation and all deposits, grew 16.1 percent annually, up 0.4 percentage points from the rate seen in March, the central bank said. The rate exceeded consensus forecast of 15.5 percent.
The PBoC on Thursday sold CNY 10 billion of three months bills, first such sale in more than a year, to drain liquidity in the banking system.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.