Newly issued loans surpass expectations

Statistics indicate ongoing monetary easing to offset economic headwinds

China's financial institutions accelerated lending to support economic growth in November, which boosted bank loans beyond the expected level, according to data reported by the central bank on Tuesday.

The country newly issued yuan-denominated loans of 1.25 trillion yuan ($181.12 billion), more than the expected 1.2 trillion yuan and 697 billion yuan in October, the People's Bank of China, the nation's central bank, said in a statement on its website.