Chinese banks extended 1.66 trillion yuan ($241.35 billion) in net new yuan loans in June, up from May but still falling short of analyst expectations. Analysts polled by Reuters had predicted new yuan loans would rise to a 5-month high of 1.7 trillion yuan in June, up from 1.18 trillion yuan in the previous month. Broad M2 money supply in June grew 8.5% from a year earlier, central bank data showed on Friday, below estimates of 8.6% forecast in the Reuters poll. Outstanding yuan loans grew 13% from a year earlier. Analysts had expected 13.4% growth, unchanged from May’s rate. Despite a flurry of growth ... (full story)