BEIJING, Sept 14 (Reuters) – China’s new bank loans returned to positive territory in August but fell well short of analysts’ forecasts after a record contraction in July, as weak demand from the household and corporate sectors continue to weigh on credit growth.
Chinese banks extended 60 billion yuan ($8.95 billion) in new loans last month, bouncing back from a 340 billion yuan contraction in July, according to Reuters calculations based on data from the People’s Bank of China (PBOC) on Monday.
Analysts polled by Reuters had expected new yuan loans in August would rebound to 400 billion yuan, but still well off 590 billion yuan a year earlier.
($1 = 6.7069 Chinese yuan renminbi)
(Reporting by Kevin Yao and Shi Bu; Editing by Alexandra Hudson)
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