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1st Ld: China's new yuan loans up in Q1

Xinhua, April 14, 2015 Adjust font size:

China's new yuan-denominated lending amounted to 3.68 trillion yuan (601.3 billion U.S. dollars) in the first quarter, official data showed on Tuesday.

The volume increased by 602 billion yuan from the same period last year, said the People's Bank of China in an online statement.

March saw a total 1.18 trillion yuan (193 billion U.S. dollars) lent, down 66.1 billion yuan from the same period last year.

M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 11.6 percent year on year to 127.53 trillion yuan at the end of March.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, expanded 2.9 percent year on year to 33.7 trillion yuan as of the end of last month.

The data comes as expectations are high for further monetary easing measures. The central bank has cut benchmark interest rates twice and banks' reserve requirement ratios once since November.

China's consumer price index (CPI), the main gauge of inflation, grew 1.4 percent year on year in March, the National Bureau of Statistics (NBS) said. The reading remained the same as that in February, which jumped back from January's 5-year low of 0.8 percent. Endi