China’s yuan loans grow by 16.02 trln yuan in first 3 quarters

BEIJING, Oct. 14 (Xinhua) — China’s yuan-denominated loans rose by 16.02 trillion yuan (about 2.27 trillion U.S. dollars) in the first three quarters of the year, central bank data showed on Monday.
The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 6.8 percent year on year to 309.48 trillion yuan at the end of September.
The M1, which covers cash in circulation plus demand deposits, stood at 62.82 trillion yuan at the end of September, down 7.4 percent year on year.
The increase in social financing scale reached 25.66 trillion yuan in the first nine months, down 3.68 trillion yuan compared to the same period last year.
Outstanding yuan loans totaled 253.61 trillion yuan at the end of last month, marking an increase of 8.1 percent year on year, the data revealed. ■