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China's new yuan loans drop in February

Xinhua, March 11, 2016 Adjust font size:

China's new yuan-denominated lending in February was 726.6 billion yuan (111.96 billion U.S. dollars), 297 billion yuan less from a year earlier, official data showed on Friday.

Despite this, the yuan-denominated lending stood at 97.19 trillion yuan at the end of February, up 14.7 percent year on year, the People's Bank of China said in a statement on its website.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 13.3 percent year on year to 142.46 trillion yuan at the end of February.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 17.4 percent year on year to 39.25 trillion yuan, the statement said. Endi