Economics
China’s New Loans Pass Estimates, Sign of Growth Support
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China’s new local-currency loans exceeded estimates last month while money supply expanded at a faster pace, a sign policy makers are maintaining credit support for the economy after first-quarter growth unexpectedly slowed.
Lending was 792.9 billion yuan ($129 billion) in April, the People’s Bank of China said yesterday in Beijing, compared with the median estimate of 755 billion yuan in a Bloomberg News survey. M2 money supply rose 16.1 percent from a year earlier, following March’s 15.7 percent advance.