China's new yuan loans hit 992.7 billion yuan in July

BEIJING - China's new yuan-denominated loans hit 992.7 billion yuan ($142.4 billion) in July, down 63.1 billion yuan compared with the same month of last year, data from the central bank showed Tuesday.

The 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 at the end of July, said the People's Bank of China.

The growth rate was 0.4 percentage points lower than that at the end of June, but up 2.6 percentage points compared with that in the same period last year.

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.

Newly-added social financing, a measurement of funds the real economy receives from the financial system, came in at 1.69 trillion yuan in July, up 406.8 billion yuan year-on-year.

By the end of July, total social financing reached 273.33 trillion yuan, up 12.9 percent year-on-year.