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Financial News: China's Bank Lending Exceeds Expectations

China's Bank Lending Exceeds Expectations

04/10/2020 - 07:37:00 (RTTNews)

(RTTNews) - China's bank lending increased more than expected in March, suggesting that measures taken to support economy helped to raise credit demand, data from the People's Bank of China showed Friday.

In March, banks lent CNY 2.85 trillion compared to expectations of CNY 1.8 trillion.

Total social financing increased to a record CNY 5.15 trillion, which was also bigger than the forecast of CNY 2.8 trillion.

The broad measure of money supply, M2 grew 10.1 percent on a yearly basis in March, faster than the 8.8 percent increase economists' had forecast.

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