BUSINESS China's new yuan loans register 645.4b yuan in April

BUSINESS

China's new yuan loans register 645.4b yuan in April

China Daily

19:34, May 13, 2022

A teller counts cash at a bank in Taiyuan, Shanxi province. (Photo: China News Service)

BEIJING - China's new yuan-denominated loans totaled 645.4 billion yuan ($95.05 billion) in April, central bank data showed Friday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 10.5 percent year-on-year to 249.97 trillion yuan at the end of last month, according to the People's Bank of China.

The M2 growth rate was 2.4 percentage points higher from the same period last year.

The outstanding amount of M1, narrow measure of money supply which covers cash in circulation plus demand deposits, stood at 63.61 trillion yuan at the end of April, up 5.1 percent year-on-year.

The outstanding amount of M0, the amount of cash in circulation, went up 11.4 percent from a year ago to 9.56 trillion yuan at the end of last month.

In April, the central bank injected a total of 48.5 billion yuan of net cash into the market, the data showed.

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