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China's new yuan loans pick up

2019-10-15 19:32

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BEIJING, Oct. 15 (Xinhua) -- China's new yuan-denominated loans reached 1.69 trillion yuan (about 238.82 billion U.S. dollars) in September, a year-on-year increase of 306.9 billion yuan, central bank data showed Tuesday.

In the first three quarters, China's new yuan-denominated loans totaled 13.63 trillion yuan, while loans denominated in foreign currencies added 4.9 billion U.S. dollars, according to the People's Bank of China (PBOC).

The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 8.4 percent year on year to 195.23 trillion yuan at the end of September.

The M2 growth rate was 0.2 percentage points higher than the level at the end of August and up 0.1 percentage points from the same period last year.

The M1, a narrow measure of money supply, which covers cash in circulation plus demand deposits, rose 3.4 percent year on year to 55.71 trillion yuan by the end of September.

M0, the amount of cash in circulation, increased 4 percent year on year to 7.41 trillion yuan by the end of September, according to the PBOC.

The net amount of cash put into circulation stood at 92.1 billion yuan in the first three quarters, said the PBOC.

Newly-added social financing, a measurement of funds that individuals and non-financial firms get from the financial system, stood at 2.27 trillion yuan in September, up 138.3 billion yuan from a year earlier.

In the first three quarters of 2019, total new social financing reached 18.74 trillion yuan, an increase of 3.28 trillion yuan from the same period last year.

Tuesday's data also showed that yuan-denominated deposits in China added 13.22 trillion yuan during the January-September period, 1.21 trillion yuan yuan higher compared with a year earlier.
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