chinese banks extended more loans than expected in june heeding the governments call to support the cooling economy official data showed monday new yuan loans stood at 281 trillion yuan 419 billion for june higher than the cny189 trillion in may the peoples bank of china said the amount of new loans also beat the cny24 trillion expected by economists polled by the wall street journal total social financing a broader measure of credit that includes nonbank loans reached cny517 trillion in june significantly higher than the cny279 trillion extended in may the pboc said chinas central bank recently called for banks to step up loan growth to support the cooling economy which has been battered by covid19 lockdowns and restrictions m2 the broadest measurement of money supply rose 114 from a year earlier in june higher than mays 111 increase and the 11 expected by surveyed economists