China's new yuan loans expand in September, M2 growth accelerates

BEIJING — China's new yuan-denominated lending in September hit 1.27 trillion yuan (about $192.8 billion), up from 1.09 trillion yuan in August, central bank data showed Saturday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, at the end of September rose 9.2 percent from a year earlier, accelerating from 8.9 percent recorded a month ago, the People's Bank of China said in a statement on its website.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 14 percent year-on-year, on par with the rate at the end of August.