Analysts polled by Reuters had predicted new yuan loans would dip to 1.41 trillion yuan in May from 1.47 trillion yuan the previous month and against 1.48 trillion yuan a year earlier.
Broad M2 money supply grew 8.3% from a year earlier, central bank data showed on Thursday, above estimates of 8.1% forecast in the Reuters poll, which matched the pace in April.
Outstanding yuan loans grew 12.2% from a year earlier compared with 12.3% growth in April. Analysts had expected 12.2% growth. $1 = 6.3896 Chinese yuan renminbi Reporting by Lusha Zhang and Kevin Yao; editing by Jason Neely