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1st LD: China's new yuan loans pick up in H1

Xinhua, July 14, 2015 Adjust font size:

China's new yuan-denominated loans reached 6.56 trillion yuan (1.07 trillion U.S. dollars) in the first half of this year, the central bank said Tuesday.

The volume was 537.1 billion yuan more than the same period of last year, the People's Bank of China said in a statement.

M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 11.8 percent year on year to 133.34 trillion yuan at the end of June, the statement said.

The growth was higher than 10.8 percent at the end of May, but was lower than 12.2 percent at the end of last year.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, expanded 4.3 percent year on year to 35.61 trillion yuan at the end of last month.

China's total social financing, a measure of funds that non-financial firms and households get from the financial system, stood at 8.81 trillion yuan in the first half, down 1.46 trillion yuan from a year earlier.

By the end of June, the stockpile of foreign exchange reserves stood at 3.69 trillion U.S. dollars. Endi