China's yuan loans grow by 19.75 trln yuan in January-September

Xinhua
China's yuan-denominated loans rose by 19.75 trillion yuan (US$2.75 trillion) in the first nine months of this year, central bank data showed Friday.
Xinhua

China's yuan-denominated loans rose by 19.75 trillion yuan (US$2.75 trillion) in the first nine months of this year, central bank data showed Friday.

In September alone, the yuan-denominated loans rose by 2.31 trillion yuan, according to the People's Bank of China.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, climbed 10.3 percent year on year to 289.67 trillion yuan at the end of September.

The growth rate was 0.3 percentage points lower than it was at the end of August, and 1.8 percentage points lower than at the end of September last year.

The M1, which covers cash in circulation plus demand deposits, stood at 67.84 trillion yuan at the end of September, up 2.1 percent year on year. The growth rate was 0.1 percentage points lower than at the end of August and 4.3 percentage points lower than at the end of September last year.

The M0, the amount of cash in circulation, went up 10.7 percent from a year ago to 10.93 trillion yuan at the end of last month.

Newly-added social financing, a measurement of funds that individuals and non-financial firms receive from the financial system, came in at 29.33 trillion yuan during the first nine months, 1.41 trillion yuan more than the same period last year.

At the end of September, the outstanding yuan loans rose 10.9 percent year on year to 234.59 trillion yuan.

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