BUSINESS China's new yuan loans fall in October

BUSINESS

China's new yuan loans fall in October

Xinhua

20:21, November 11, 2019

BEIJING - China's new yuan-denominated loans reached 661.3 billion yuan ($94.47 billion) in October, a year-on-year drop of 35.7 billion yuan, central bank data showed Monday.

File photo: VCG

The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 8.4 percent year-on-year to 194.56 trillion yuan at the end of October, according to the People's Bank of China.

The M2 growth was the same as that at the end of September but was 0.4 percentage points higher than the same period last year.

The narrow measure of the money supply (M1), which covers cash in circulation plus demand deposits, rose 3.3 percent year-on-year to 55.81 trillion yuan by the end of October.

The M1 growth was 0.1 percentage points lower than that at the end of September but was 0.6 percentage points higher than the same period last year.

M0, the amount of cash in circulation, rose 4.7 percent year-on-year to 7.34 trillion yuan by the end of October.

The central bank drained 73.4 billion yuan of net cash from the market in October.

Newly-added social financing, a measurement of funds that individuals and non-financial firms get from the financial system, stood at 618.9 billion yuan, down 118.5 billion yuan from the same period last year.

In the first 10 months, total new social financing reached 19.41 trillion yuan, an increase of 3.21 trillion yuan from the same period last year.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue