China's new bank loans rise in June, above forecasts

BEIJING, July 14 (Reuters) - Chinese banks extended 2.24 trillion yuan ($312.45 billion) in new loans in June, more than triple the amount in May and beating analysts' forecasts.

Analysts polled by Reuters had expected June new yuan loans would reach 1.8 trillion yuan, compared with 620 billion yuan in May and 2.13 trillion yuan a year earlier.

The People's Bank of China does not release monthly breakdowns. Reuters calculated the June figure using the central bank's January-June data, compared with the January-May figure.

($1 = 7.1692 Chinese yuan)