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China's new yuan loans rise in first quarter: Central bank

Xinhua | Updated: 2017-04-14 16:16

China's new yuan loans rise in first quarter: Central bank

BEIJING - China's banks loaned 4.22 trillion yuan ($613 billion) in the first quarter of 2017, central bank data showed Friday.

The M2, a broad measure of the money supply that covers cash in circulation and all deposits, grew 10.6 percent from a year earlier to about 159.96 trillion yuan by the end of March, according to an online People's Bank of China statement.

The M1, a narrow measure of the money supply which covers cash in circulation plus demand deposits, rose 18.8 percent year on year to 48.88 trillion yuan.

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