BEIJING — China's new yuan-denominated loans totaled 3.58 trillion yuan (about $554.75 billion) in January, up 225.2 billion yuan year-on-year, central bank data showed on Feb 9.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 9.4 percent year-on-year to 221.3 trillion yuan at the end of January, according to the People's Bank of China.

The M2 growth was 0.7 percentage points lower than that at the end of December, but was 1 percentage point higher than the same period of the year before.

The narrow measure of the money supply (M1), which covers cash in circulation plus demand deposits, rose by 14.7 percent year-on-year to 62.56 trillion yuan at the end of January.

The M1 growth was 6.1 percentage points higher than that at the end of December but was 14.7 percentage points higher than the same period of the previous year.

M0, the amount of cash in circulation, fell by 3.9 percent year-on-year to 8.96 trillion yuan by the end of last month.

The central bank injected 531 billion yuan of net cash into the market in January, PBOC data showed.