China sees double-digit growth in broad money supply

BEIJING -- China's central bank said Tuesday the country's M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 10.7 percent year-on-year to 212.55 trillion yuan (about $30.49 trillion) at the end of July.

The growth rate was 0.4 percentage points lower than that at the end of June, and up 2.6 percentage points compared with that in the same period last year, said the People's Bank of China, the central bank.

The narrow measure of the money supply (M1), which covers cash in circulation plus demand deposits, stood at 59.12 trillion yuan by the end of July, up 6.9 percent from a year ago.

M0, the amount of cash in circulation, rose 9.9 percent year-on-year to 7.99 trillion yuan by the end of last month.