BEIJING, Dec 8 Reuters China39;s new loans are expected to have jumped in November from the previous month and exceeded the yearearlier amount, a Reuters poll showed, as the central bank works to shore up confidence and demand across the world39;s secondlargest economy.

Chinese banks are estimated to have issued 1.3 trillion yuan181.72 billion in net new yuan loans last month, up sharply from 738.4 billion in October, according to the median estimates of 19 economists. Last November, 1.21 trillion yuan was issued in new loans.

Last week, central bank chief Pan Gongsheng pledged to keep monetary policy accommodative to support the postpandemic recovery, but also urged structural reforms to reduce reliance on infrastructure and property for growth.

As part of support measures, the People39;s Bank of China PBOC has cut interest rates on some loans and pumped out more cash in recent months, in contrast to other major economies who have tightened policy to tackle inflation.

In September, the PBOC cut banks39; reserve requirement ratio for the second time this year, and analysts expect another cut in the coming weeks.

We believe that banks may bring forward some of their releases originally planned for early next year to this November, analysts at CITIC Securities said in a note, after central bank officials met with financial regulators last month.

Moody39;s on Tuesday slapped a downgrade warning on China39;s credit rating, citing concerns over the cost of bailing out…