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1st LD: China's new yuan loans surge in September

Xinhua, October 18, 2016 Adjust font size:

China's new yuan-denominated lending beat market forecasts in September to stand at 1.22 trillion yuan (about 181.3 billion U.S. dollars), official data showed Tuesday.

The monthly lending figure represented an increase of 164.3 billion yuan on the same period a year earlier, the People's Bank of China said in a statement.

New yuan-denominated loans totalled 10.16 trillion yuan in the first

nine months of the year.

M2, a broad measure of the money supply that covers cash in circulation and all deposits, rose 11.5 percent year on year to 151.64 trillion yuan by the end of September, with the growth rate 0.1 percentage points higher than a month earlier.

M1, a narrow measure of money supply that covers cash in circulation plus demand deposits, rose 24.7 percent year on year to 45.43 trillion yuan, with the growth rate 0.6 percentage points lower than a month ago. Endi