New bank lending in China missed market expectations in June, as sluggish domestic demand weighed on appetite for borrowing.
Chinese banks extended 1.61 trillion yuan, equivalent to $237.75 billion, in new yuan loans in June, according to calculations by The Wall Street Journal based on data from the People's Bank of China.
The reading was higher than the 520 billion yuan recorded in May, but missed the 1.95 trillion yuan expected by economists surveyed by the Wall Street Journal.
Total social financing, a broader measure of credit that includes non-bank financing, came in at 3.36 trillion yuan, the People's Bank of China said on Wednesday.
M2, the broadest measure of money supply, rose 8.0% on year in June, down from May's 8.6% rise and also lower than the 8.5% growth anticipated by surveyed economists.
