China's yuan loans grow by 4.92 trln in January

0 Comment(s)Print E-mail Xinhua, February 10, 2024
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China's yuan-denominated loans increased by 4.92 trillion yuan (692.6 billion U.S. dollars) in January this year, central bank data showed Friday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, climbed 8.7 percent year on year to 297.63 trillion yuan by the end of last month, according to data from the People's Bank of China.

The M1, which covers cash in circulation plus demand deposits, stood at 69.42 trillion yuan at the end of January, up 5.9 percent year on year.

The M0, which indicates the amount of cash in circulation, rose by 5.9 percent from the previous year to total 12.14 trillion yuan at the end of January, the data revealed.

Outstanding social financing stood at 384.29 trillion yuan at the end of January -- up 9.5 percent year on year.

Outstanding yuan loans reached 242.5 trillion yuan at the end of January, an increase of 10.4 percent year on year, the data showed. 

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