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RMB denominated loans decline in Oct

China's new yuan-denominated loans reached 661.3 billion yuan ($94.47 billion) in October, a year-on-year drop of 35.7 billion yuan, according to the People's Bank of China, the central bank, on Monday. The country's broad money supply, or M2, increased by 8.4 percent to 194.56 trillion yuan by the end of October. The outstanding total social financing (TSF), which includes off-balance sheet forms of financing that exist outside the conventional bank lending system, reached 219.6 trillion yuan at the end of October, up 10.7 percent from the year earlier level, the central bank reported.

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