China's Nov new loans reach 522.9b yuan

BEIJING -- China's new yuan-denominated lending reached 522.9 billion yuan ($83 billion) in November, down 40 billion yuan year-on-year, the People's Bank of China, or the central bank, announced Tuesday.

The new loan figure missed market expectations of 550 billion yuan.

However, the figure was up from the 505.2 billion yuan of new yuan loans registered in October, according to the People's Bank of China.

The bank said that total social financing, a measure of funds raised by entities in the real economy, stood at 1.14 trillion yuan last month, up 183.7 billion yuan from a year earlier.

In the first 11 months of the year, the country's social financing added up to 14.15 trillion yuan, up 2.6 trillion yuan from the same period in 2011, data showed.

New loans denominated in foreign currencies hit 104.8 billion yuan last month, up 99.9 billion yuan year-on-year, according to the PBOC.

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