MNI: China Nov New Loans Above Expected; M2 Growth Recovers

--New Loan Issuance, Total Social Financing Well Above Expectations

     BEIJING (MNI) - The People's Bank of China announced on Monday its latest

money supply and bank lending data.

     November new loan issuance totaled CNY1.12 trillion, almost double the

CNY663.2 billion in new lending in October and also well above the MNI survey

median expectations for a CNY800 billion gain.

     Total social financing -- a gauge of overall credit and liquidity -- rose

to CNY1.6 trillion in November, much higher than the MNI median forecast of

CNY1.29 trillion and half again higher then the CNY1.04 trillion rise in

October. 

     M2 money supply rose 9.1% year-on-year to CNY167.00 trillion. The growth

accelerating from 8.8% growth in October and was stronger than the MNI survey

median of 8.9%

     M1 money supply rose 12.7% year-on-year to CNY53.56 trillion, compared with

13.0% growth in October. M0 rose 5.7% year-on-year to CNY6.86 trillion, compared

with a 6.3% increase in October.

     Outstanding yuan loans stood at CNY119.55 trillion at the end of November,

13.3% higher than the year-earlier period, compared with a 13% increase in

October. Outstanding yuan deposits grew 9.6% year-on-year to CNY164.9 trillion,

compared with 9.1% growth in October.

--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com

--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com

--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com

[TOPICS: MAQDS$,M$A$$$,M$Q$$$,MT$$$$]