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China's new yuan loans rise in May

Xinhua, June 15, 2016 Adjust font size:

China's new yuan-denominated lending in May stood at 985.5 billion yuan (about 149 billion U.S. dollars), up 84.7 billion yuan from a year earlier, official data showed Wednesday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 11.8 percent year on year to 146.17 trillion yuan by the end of May, 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 23.7 percent year on year to 42.43 trillion yuan, the statement said. Endi