China's new yuan loans rise in January

BEIJING - China's new yuan-denominated loans totaled 3.58 trillion yuan ($ 554.75 billion) in January, up 225.2 billion yuan year-on-year, central bank data showed Tuesday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 9.4 percent year-on-year to 221.3 trillion yuan at the end of January, according to the People's Bank of China.