CHINA China's new yuan loans rise in November

CHINA

China's new yuan loans rise in November

Xinhua

19:17, December 10, 2019

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File photo: CGTN

BEIJING, Dec. 10 (Xinhua) -- China's new yuan-denominated loans hit 1.39 trillion yuan (197.44 billion U.S. dollars) in November, a year-on-year rise of 138.7 billion yuan, central bank data showed on Tuesday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 8.2 percent year on year to 196.14 trillion yuan at the end of November.

The M2 growth was 0.2 percentage points lower than that at the end of October but was 0.2 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 3.5 percent year on year to 56.25 trillion yuan by the end of November.

The M1 growth was 0.2 percentage points higher than that at the end of October. It was also 2 percentage points higher than the same period last year.

M0, the amount of cash in circulation, rose 4.8 percent year on year to 7.4 trillion yuan by the end of November.

The central bank injected 57.8 billion yuan of net cash into the market in November.

Newly added social financing, a measurement of funds that individuals and non-financial firms receive from the financial system, stood at 1.75 trillion yuan in November, up 150.5 billion yuan from the same period last year.

In the January-November period, total new social financing reached 21.23 trillion yuan, an increase of 3.43 trillion yuan from the same period last year.

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