Economics
China’s New Loans Beat Estimates in Boost for Economic Growth
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China’s new yuan loans and money supply topped estimates in May as the government supports economic growth while reining in shadow banking.
Local-currency loans were 870.8 billion yuan ($140 billion), the People’s Bank of China said on its website yesterday, higher than 42 out of 43 analyst estimates in a Bloomberg News survey. M2, the broadest measure of money supply, rose 13.4 percent, compared with a median projection for 13.1 percent.