China surging bank loans, trying to curb investment

China surging bank loans, trying to curb investment

Figures released Wednesday by the central bank showed China's broadest measure of money supply, M2, jumped 19.1 percent by the end of May from a year earlier, exceeding economists forecasts and raising expectations the government may take further measures to tighten credit.

The data confirmed earlier reports in the state media that suggested a recent interest rate hike and other measures aimed at discouraging real estate speculation and other risky investments have not yet had much impact, the AP reports.