China Feb bank lending weaker than expected

BEIJING: Chinese banks extended 710.7 billion yuan ($112.5 billion) in new loans in February, the People's Bank of China said on Friday, below market expectations of 750 billion yuan.

Weaker-than-expected bank lending in February will put pressure on the central bank to cut bank reserve requirement ratio (RRR) further.

Data earlier in the day showed inflation, factory output and retail sales all cooled more than expected in February, giving the central bank more leeway to loosen policy to support flagging growth.