Pro-growth policies make impact, boost economy

China's major financial data was boosted in August, indicated by money supply acceleration and stronger bank loan growth, which reflected stabilized economic activity supported by more pro-growth policies, said analysts.

The new loans denominated by renminbi reached 1.21 trillion yuan ($170 billion) in August, compared with 1.06 trillion yuan in July, the People's Bank of China, the central bank, said on Wednesday.

The broad measure of money supply, or M2, increased by 8.2 percent by the end of last month, accelerating from 8.1 percent in July, the PBOC reported.