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.