Yuan loan balances in China increased in July

(MENAFN) According to data released by the central bank on Friday, China’s yuan-denominated loan balance increased by 679 billion yuan (about $100.7 billion) in July.

The People’s Bank of China said the amount was down 404.2 billion yuan from the same period last year.

By the end of the previous month, M2, a broad indicator of money supply that includes all deposits and cash in circulation, had risen 12 percent a year to 257.81 trillion yuan.

The growth rate was 3.7 percentage points higher than the same period last year and 0.6 percentage point higher than the figure recorded at the end of June.

At the end of July, M1, which includes demand deposits and cash in circulation, stood at 66.18 trillion yuan. It increased by 6.7% compared to the previous year.

By the end of the previous month, the M0, or the amount of currency in circulation, had risen 13.9% from a year earlier to 9.65 trillion yuan.


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