PEKING (dpa-AFX) - China's bank lending growth was weaker than expected in May, data from the People's Bank of China showed Monday.
Chinese banks extended CNY 551.6 billion in local currency loans in May, below economists' expectations of CNY 739.6 billion.
Outstanding amount of yuan loans at the end of May rose 17.1 percent year-on-year, the central bank said in a statement.
The broad money measure, or M2, rose 15.1 percent year-on-year in May, while expectations were for a 15.3 percent increase.
The M1 money supply registered a 12.7 percent increase compared to 12.9 percent growth forecast, while the M0, the currency in circulation, climbed 15.4 percent, faster than forecast for a 14.7 percent rise.
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