China's new yuan loans expand, M2 growth cools

BEIJING - China's new yuan-denominated loans in March expanded to 1.12 trillion yuan ($177.8 billion), 93.4 billion yuan more than the same period a year earlier, the central bank data showed Friday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, grew 8.2 percent year-on-year, compared with an 8.8-percent increase a month earlier, the People's Bank of China said in a statement.