China’s July new yuan loans fall

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BEIJING, Aug. 12 (Xinhua) — China’s new yuan-denominated loans stood at 1.06 trillion yuan (about 151 billion U.S. dollars) in July, 397.5 billion yuan less than the same period last year, central bank data showed 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 (PBOC), the central bank.

The M2 growth was 0.4 percentage points slower than the level at the end of June and at the same period last year.

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.

Newly-added social financing, a measurement of funds that individuals and non-financial firms get from the financial system, stood at 1.01 trillion yuan in July, compared with 2.26 trillion yuan in June.

By the end of July, China’s total outstanding social financing rose 10.7 percent year on year to 214.13 trillion yuan.

The newly-added loans to the real economy increased by 808.6 billion yuan in July, 477.5 billion yuan less compared with a year ago, according to the PBOC.

Monday’s data also showed that the new yuan-dominated deposits in China rose 642 billion yuan in July, 386.7 billion yuan less compared with a year earlier.

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