Growth in money supply scaled down

Central bank: Economy's needs met during deleveraging

Growth in a broad measurement of China's money supply dropped to a record low in June as regulators worked to reduce leverage in the nation's economy.

The M2 money supply grew 9.4 percent from a year earlier, after a 9.6 percent growth rate in May, which also was a record low, according to data from the People's Bank of China. That is compared with a 12 percent target for the broad money supply for the whole year.