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BEIJING, Oct. 14 (Xinhua) -- Chinese banks extended a forecast-beating amount of new loans in September while broad money supply growth also accelerated, buoyed by credit demand from the real economy.
New yuan-denominated lending in September hit 1.27 trillion yuan (about 192.8 billion U.S. dollars) http://www.torontomapleleafsteamstore.com/ , up from 1.09 trillion yuan in August, well above market expectations, central bank data showed Saturday.
The M2, a broad measure of money supply that covers cash in circulation and all deposits http://www.torontomapleleafsteamstore.c … man-jersey , at the end of September rose 9.2 percent from a year earlier, accelerating from 8.9 percent recorded a month ago, the People's Bank of China (PBOC) said in a statement on its website.
It marked the first time M2 growth has picked up in eight months, but the rate was still 2.3 percentage points lower from a year earlier.
Newly added total social financing http://www.torontomapleleafsteamstore.c … der-jersey , a broader measure of new credit in the economy, reached 1.82 trillion yuan in September, up from 1.48 trillion yuan in August.
The combined data reflected the sharp drop in loans from banks to other financial firms, which is considered a key channel for financing shadow banking transactions http://www.torontomapleleafsteamstore.c … ark-jersey , Bloomberg chief Asia economist Tom Orlik said in a research note.
China's central bank has been trying to strike a balance between defusing risks arising from shadow banking activities and guiding funds into the real economy to shore up growth.
"The government is aiming to deleverage without moving any great distance from its commitment to 6.5 percent annual GDP growth out to 2020. That implies credit to the real economy will have to stay on a rapid growth path," Orlik said.
In a bid to improve credit support for small and micro-sized enterprises, startups and agricultural production, the PBOC recently announced a targeted reserve requirement ratio (RRR) cut.
The new policy http://www.torontomapleleafsteamstore.c … zak-jersey , which goes into effect in 2018, offers commercial banks an RRR cut of 0.5 to 1.5 percentage points from next year if their annual outstanding or new loans in inclusive financing reach certain requirement. Wholesale Jerseys Cheap Jerseys Free Shipping Cheap Shirts Cheap Jerseys From China Cheap College Jerseys China Cheap T-shirts Cheap New NHL Jerseys Cheap NFL Jerseys Online Cheap Baseball Jerseys Cheap Shirts China