Economic review

New yuan loans hit record high

2018-02-13 10:31:00 (Beijing Time)         Global Times/Agencies


China's new yuan-denominated loans in January hit 2.9 trillion yuan ($458.2 billion), 867 billion yuan more than in January 2017 and a record high, central bank data showed Monday.

M2, a broad measure of money supply that covers cash in circulation and all deposits, reached 172.1 trillion yuan at the end of January, up 8.6 percent year-on-year, compared with an 8.1 percent increase a month earlier, the People's Bank of China, the central bank, said in a statement.