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1st LD: China's new yuan loans soar in January

Xinhua, February 16, 2016 Adjust font size:

China's new yuan-denominated lending in January jumped to 2.51 trillion yuan (385 billion U.S. dollars), an increase of 71 percent from a year earlier, official data showed Tuesday.

January's new yuan loans were also about four times that posted in December 2015.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 14 percent year on year to 141.63 trillion yuan at the end of January, the People's Bank of China said in a statement on its website.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 18.6 percent year on year to 41.27 trillion yuan, the statement said.

The M0, the amount of money in circulation, stood at 7.25 trillion yuan, a year-on-year increase of 15.1 percent. January also saw a net money injection of 931 billion yuan, the central bank said.

Total social finance, a measurement of funds that non-financial firms and households get from the financial system, stood at 3.42 trillion yuan, nearly double December's count of 1.81 trillion yuan, it said.

In January, yuan-denominated deposits rose 2.04 trillion yuan, an increase of 372.5 billion yuan from a year earlier.

By the end of January, total outstanding loans stood at 101.86 trillion yuan, up 14.1 percent from the previous year. Outstanding deposits in both yuan and non-yuan currencies rose 12.3 percent year on year to 141.99 trillion yuan at the end of January, data showed.

Last month, yuan-denominated cross-border trade settlement reached 564.3 billion yuan. Direct investment settled in yuan stood at 317.8 billion yuan, the central bank said. Endi