1 Minute Read by Reuters Staff (Reuters) – BEIJING, July 9 (Reuters) – In June, Chinese banks extended fresh yuan loans totaling 2.12 trillion yuan ($327 billion), up from May and beyond experts’ estimates. According to Reuters polled analysts, fresh yuan loans increased to 1.8 trillion yuan in June, up from 1.5 trillion yuan the previous month and 1.81 trillion yuan a year ago. The broad M2 money supply increased 8.6% from a year ago, according to central bank statistics released on Friday, exceeding the 8.2% projection in a Reuters poll. M2 increased by 8.3 percent in May compared to the same month last year. Outstanding yuan loans increased 12.3 percent year over year, compared to 12.2 percent in May. Analysts had predicted a growth rate of 12.1%. ($1 = 6.4855 Chinese yuan renminbi renminbi renminbi renminbi renminbi renminbi (Stella Qiu, Judy Hua, and Kevin Yao contributed reporting; Gareth Jones edited the piece.)/n
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