New yuan loans gather momentum in May

Mini stimulus measures, monetary policy tweaks to keep growth on track

China's new yuan loans increased last month as authorities stepped up their efforts to stabilize the economy and ensure growth by taking "mini stimulus" measures and fine-tuning monetary policy.

New yuan loans reached 870.8 billion yuan ($140 billion) in May, up 12.4 percent from 774.7 billion yuan in the previous month and 30 percent from 669.4 billion yuan a year earlier, the People's Bank of China said in a statement on Thursday.