China's new yuan loans, M2 on the rise

Source: Xinhua| 2020-07-10 19:31:45|Editor: huaxia

BEIJING, July 10 (Xinhua) -- China's new yuan-denominated loans expanded to 12.09 trillion yuan (about 1.73 trillion U.S. dollars) in the first six month of the year, up 2.42 trillion yuan year on year, data showed Friday.

In June alone, new yuan loans hit 1.81 trillion yuan, a year-on-year increase of 147.4 billion yuan, said the People's Bank of China (PBOC), the central bank.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 11.1 percent year on year to 213.49 trillion yuan at the end of June, the PBOC data showed.

The growth rate was unchanged from that seen at the end of May, and up 2.6 percentage points when compared with that for the same period last year.

The narrow measure of the money supply (M1), which covers cash in circulation plus demand deposits, stood at 60.43 trillion yuan by the end of June, up 6.5 percent from a year ago.

M0, the amount of cash in circulation, rose 9.5 percent year on year to 7.95 trillion yuan by the end of last month.

Newly-added social financing, a measurement of funds the real economy receives from the financial system, came in at 20.83 trillion yuan in H1, up 6.22 trillion yuan year on year. Enditem