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China's new yuan loans rise in September

Updated: Oct 15,2020 07:20 AM    Xinhua

BEIJING — China's new yuan-denominated loans hit 1.9 trillion yuan (about $281.59 billion) in September, a year-on-year increase of 204.7 billion yuan, central bank data showed on Oct 14.

The country's M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 10.9 percent year-on-year to 216.41 trillion yuan at the end of September, said the People's Bank of China.

The growth rate was 0.5 percentage points higher than that it was at the end of August, and up 2.5 percentage points from the same period last year.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, came in at 60.23 trillion yuan at the end of September, up 8.1 percent from last year.

M0, the amount of cash in circulation, had risen 11.1 percent year-on-year to 8.24 trillion yuan by the end of last month.

Newly added social financing, a measure of funds the real economy receives from the financial system, came in at 3.48 trillion yuan in September, up 963 billion yuan year-on-year.

By the end of September, total social financing hit 280.07 trillion yuan, up 13.5 percent year-on-year.

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