China's November new bank loans rise to 390 billion yuan, missing forecast

Chinese banks extended 390 billion yuan ($55 billion) in new loans in November, up from 220 billion yuan in October but missing expectations, according to Reuters calculations based on data from the People's Bank of China on Friday.

The figure was below the 500 billion yuan expected by analysts polled by Reuters and lower than the 580 billion recorded a year earlier.

China's central bank does not provide monthly breakdowns. Reuters calculated the November figure based on the bank's January-to-November data and compared it with the January-to-October figure.

-Shi Bu and Kevin Yao