China's new yuan-denominated loans hit 492.6b yuan in July

Updated: 2011-08-12 16:21


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BEIJING-- New yuan-denominated lending in China reached 492.6 billion yuan ($76.97 billion) in July, a drop of 25.2 billion yuan compared with the increment in July 2010, the central bank said Friday.

The July figure was also 141.3 billion yuan less than that of June, the People's Bank of China said in a statement on its website.

By the end of July, the broad money supply (M2), which covers cash in circulation and deposits, rose 14.7 percent year-on-year to 77.29 trillion yuan, down from June's 15.9-percent growth rate.

The narrow measure of money supply (M1), which covers cash in circulation plus current corporate deposits, climbed 11.6 percent year-on-year to 27.06 trillion yuan.