China's new bank loans rise in May, below forecasts
BEIJING, June 13 (Reuters) - Chinese banks extended 620 billion yuan ($86.34 billion) in new loans in May, rising from the previous month as reassuring monetary measures and a trade truce achieved between Beijing and Washington in mid-May boosted borrowers' confidence.
The loans distributed missed analysts' forecasts, rising from April's 280 billion yuan, according to Reuters calculations based on data released by the People's Bank of China on Friday.
Analysts polled by Reuters had expected May new yuan loans would reach 850 billion yuan, compared with 950 billion yuan a year earlier.
The central bank does not provide monthly breakdowns. Reuters calculated the May figures based on the bank's January-May data, compared with the January-April figure.
($1 = 7.1813 Chinese yuan renminbi)
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