China’s new yuan-denominated loans reached 1.06 trillion yuan in July, central bank data showed on Monday.
The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 8.1 percent year-on-year to 191.94 trillion yuan at the end of July, according to the People’s Bank of China.
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The narrow measure of the money supply (M1), which covers cash in circulation plus demand deposits, rose 3.1 percent year-on-year to 55.3 trillion yuan by the end of last month.
M0, the amount of cash in circulation, increased 4.5 percent year-on-year to 7.27 trillion yuan by the end of July, according to the PBOC.
By the end of July, China’s total outstanding social financing rose 10.7 percent year-on-year to 214.13 trillion yuan.