China Bank Lending Rises more Than expected in may at 793.2 Bln Yuan

  • Chinese banks made 793.2 billion Yuan worth of new loans in May, beating market expectations for 720 billion Yuan.
  • China's broad money supply rose 13.2 pct y/y in May also stronger than market expectations of 13 pct, the central bank said
  • Outstanding Yuan loans stood at 58.72 trillion Yuan at the end of May, an increase of 15.7 y/y rise
  • The central bank also reduced banks' reserve requirement ratio three times since last Nov to pump out additional funds