China's new yuan loans expand in October, M2 growth moderates

Xinhua Published: 2017-11-13 20:57:17
Comment
Share
Share this with Close
Messenger Messenger Pinterest LinkedIn

Chinese banks extended 663.2 billion yuan (about 100 billion U.S. dollars) of new loans in October, while broad money supply growth also accelerated, central bank data showed Monday.

[File photo: VCG]

[File photo: VCG]


New yuan-denominated loans in October increased by 11.9 billion yuan from September, the People's Bank of China said in an online statement.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, at the end of October rose 8.8 percent from a year earlier, 2.8 percentage points down from the same period last year.

The narrower measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 13 percent year on year to 52.6 trillion yuan at the end of October.

New loans made to non-financial enterprises and government institutions hit 214.2 billion yuan in October, indicating credit demand from the real economy.

Medium to long-term loans, mainly consisting of personal housing mortgages, added 371 billion yuan in October.

By the end of October, outstanding yuan loans grew 13 percent from a year earlier to 118.42 trillion yuan.

The newly added measure of social financing, a broader measure of financing, reached 1.04 trillion yuan in October, an increase of 152.2 billion yuan from the same period a year ago.

Related stories

Share this story on

Most Popular

Photo

A treat for Star Wars fans - droid R2-D2 on display in Hangzhou
When hot pot meets hot spring
China prepares to build 5th Antarctic research station
Annual Christmas parade held in Panama City
Combo photos of survivors of Nanjing Massacre
2017 Belt and Road Brand Expo attracts visitors in Shanghai

News

Media briefing on Xi Jinping's APEC leaders meeting, SE Asia visit
"Naughty" elephant damages two vehicles in SW China
Chinese group demands compensation from Japan for Nanjing Massacre
Chengdu tops list as China's happiest city
Top procuratorate investigates Sun Zhengcai
Xi stresses nonstop efforts to fight undesirable work styles