Slow growth in loans gives less support to economy

The amount of new loans in China accelerated less than expected in November, the People's Bank of China reported on Friday, lending only weak support for an economic rebound.

New loans grew by 708 billion yuan ($110 billion) in November, compared to a 513 billion yuan increase in October.

By the end of November, outstanding yuan loans reached 93.36 trillion, a 14.9 percent increase year-on-year, though the growth rate was 0.5 percent points lower than the previous month.