Chinese banks extended CNY 3.1 trillion in new yuan loans in March 2024, more than double the CNY 1.45 trillion in February, but below forecasts of CNY 3.56 trillion. The reading is also lower than CNY 3.89 trillion in March 2023, in another sign of weak credit demand. March is usually a strong month for borrowing because banks tend to extend more credit at the end of each quarter to meet lending targets. New yuan loans reached CNY 9.46 trillion in the first quarter of 2024, compared to a record of CNY 10.6 trillion in the first quarter of 2023. Meanwhile, total social financing, which is a broad measure of credit and liquidity, went up to CNY 4.87 trillion in March, compared to CNY 1.52 trillion in February and forecasts of CNY 4.7 trillion. Broad M2 money supply rose 8.3% from a year earlier, below 8.7% in February and forecasts of 8.7%. Growth in outstanding yuan loans slowed more than expected to 9.6%, a record low reading, compared to 10.1% in February and forecasts of 9.9%. source: People's Bank of China

Banks Balance Sheet in China increased to 3090 CNY Billion in March from 1450 CNY Billion in February of 2024. Banks Balance Sheet in China averaged 955.34 CNY Billion from 2004 until 2024, reaching an all time high of 4920.00 CNY Billion in January of 2024 and a record low of -32.10 CNY Billion in July of 2005. This page provides - China New Yuan Loans - actual values, historical data, forecast, chart, statistics, economic calendar and news. China New Yuan Loans - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.

Banks Balance Sheet in China increased to 3090 CNY Billion in March from 1450 CNY Billion in February of 2024. Banks Balance Sheet in China is expected to be 2800.00 CNY Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China New Yuan Loans is projected to trend around 1500.00 CNY Billion in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-03-15 08:35 AM
New Yuan Loans
Feb CNY1450B CNY4920B CNY1500B CNY1900B
2024-04-12 11:00 AM
New Yuan Loans
Mar CNY3090B CNY1450B CNY3560B CNY 3100.0B
2024-05-11 08:00 AM
New Yuan Loans
Apr CNY3090B CNY1200.0B


Related Last Previous Unit Reference
New Yuan Loans 3090.00 1450.00 CNY Billion Mar 2024
Cash Reserve Ratio Big Banks 10.00 10.00 percent Apr 2024
Central Bank Balance Sheet 445693.90 456426.77 CNY Hundred Million Feb 2024
Deposit Interest Rate 0.35 0.35 percent Mar 2024
Foreign Exchange Reserves 3245657.00 3225817.00 USD Million Mar 2024
Interbank Rate 2.01 2.02 percent Apr 2024
Loan Prime Rate 1Y 3.45 3.45 percent Apr 2024
Liquidity Injections Via Reverse Repo 2.00 2.00 CNY Billion Apr 2024
Outstanding Loan Growth YoY 9.60 10.10 percent Mar 2024
Loans To Banks 2425307.26 2411513.07 CNY Hundred Million Feb 2024
Total Social Financing 48700.00 15211.00 CNY Hundred Million Mar 2024
Money Supply M0 11721.05 12100.99 CNY Billion Mar 2024
Money Supply M1 68580.89 66591.61 CNY Billion Mar 2024
M2 Money Supply YoY 304795.22 299557.30 CNY Billion Mar 2024
Reverse Repo Rate 1.80 1.80 percent Apr 2024

China New Yuan Loans
In China, new yuan loans refer to financial institutions Renminbi credit funds balance sheet. They represent more than four-fifths of all loans.
Actual Previous Highest Lowest Dates Unit Frequency
3090.00 1450.00 4920.00 -32.10 2004 - 2024 CNY Billion Monthly

News Stream
China Bank Loans Rise Less Than Expected
Chinese banks extended CNY 3.1 trillion in new yuan loans in March 2024, more than double the CNY 1.45 trillion in February, but below forecasts of CNY 3.56 trillion. The reading is also lower than CNY 3.89 trillion in March 2023, in another sign of weak credit demand. March is usually a strong month for borrowing because banks tend to extend more credit at the end of each quarter to meet lending targets. New yuan loans reached CNY 9.46 trillion in the first quarter of 2024, compared to a record of CNY 10.6 trillion in the first quarter of 2023. Meanwhile, total social financing, which is a broad measure of credit and liquidity, went up to CNY 4.87 trillion in March, compared to CNY 1.52 trillion in February and forecasts of CNY 4.7 trillion. Broad M2 money supply rose 8.3% from a year earlier, below 8.7% in February and forecasts of 8.7%. Growth in outstanding yuan loans slowed more than expected to 9.6%, a record low reading, compared to 10.1% in February and forecasts of 9.9%.
2024-04-12
China's New Bank Loans Fall More Than Expected
Chinese banks extended CNY 1.45 trillion in new yuan loans in February 2024, down from a record CNY 4.92 trillion reported in January and missing market forecasts of CNY 1.50 trillion, despite the central bank's efforts to bolster the economy's recovery and combat deflationary pressures. Last month, the PBOC announced its largest-ever reduction in a key mortgage reference rate. Additionally, Governor Pan Gongsheng recently stated at a news conference that there was still room for cutting banks' RRR, following a 50-basis point cut in January. Total social financing, which is a broad measure of credit and liquidity, dropped to CNY 1.56 trillion, also down from a record CNY 6.5 trillion and well below forecasts of CNY 2.22 trillion. Broad M2 money supply rose 8.7% from a year earlier, the joint-lowest pace since November 2021 and missing forecasts of 8.8%. Outstanding yuan loans increased by 10.1%, easing from 10.4% in January and below market expectations of 10.2%.
2024-03-15
China New Bank Loans at Record High
Chinese banks extended CNY 4.92 trillion in new yuan loans in January 2024, a record high since comparable records began in 2004, slightly above the previous record of CNY 4.9 trillion a year earlier and beating forecasts of CNY 4.5 trillion. The increase comes as the Chinese authorities try to shore up the economy and as loans tend to rise in the beginning of the year as banks try to get higher-quality customers and win market share. Household loans, mostly mortgages, rose to CNY 980.1 billion and corporate loans jumped to CNY 3.86 trillion. Meanwhile, total social financing which is a broad measure of credit and liquidity, also reached a record high level of CNY 6.5 trillion, well above forecasts of CNY 5.55 trillion. Broad M2 money supply rose 8.7% from a year earlier, the lowest since November 2021, and well below 9.7% in the previous month and forecasts of 9.3%. Outstanding yuan loans increased 10.4%, slightly below 10.6% in December but in line with market expectations.
2024-02-09