China's new yuan loans expand in September, M2 growth accelerates

Source: Xinhua| 2017-10-14 10:42:30|Editor: Yang Yi
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BEIJING, Oct. 14 (Xinhua) -- China's new yuan-denominated lending in September hit 1.27 trillion yuan (about 192.8 billion U.S. dollars), up from 1.09 trillion yuan in August, central bank data showed Saturday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, at the end of September rose 9.2 percent from a year earlier, accelerating from 8.9 percent recorded a month ago, the People's Bank of China said in a statement on its website.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 14 percent year on year, on par with the rate at the end of August.

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