China new loans grow in November

Chinese banks issued 708.9bn yuan ($110.10bn) of new yuan loans in November compared with 513.6 trn yuan in October, according to data released by the People's Bank of China.

The figure surpassed analysts’ expectations of 600bn yuan.

Total social financing came in at 1.02 trn yuan, up from 476.7bn yuan the previous month, while M2 money supply – a broader measure that covers cash in circulation and demand deposits – was 13.7% higher than a year earlier, beating expectations for a 13.4% increase.