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Published: 14:40, August 13, 2022 | Updated: 14:47, August 13, 2022
Balance of China's yuan loans up in July
By Xinhua
Published:14:40, August 13, 2022 Updated:14:47, August 13, 2022 By Xinhua

A worker counts Chinese currency renminbi at a bank in Linyi, East China's Shandong province. (PHOTO/XINHUA)

BEIJING - The balance of China's yuan-denominated loans increased by 679 billion yuan (about $100.7 billion) in July, central bank data showed Friday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 12% year on year to 257.81 trillion yuan at the end of last month

The figure decreased by 404.2 billion yuan from the same period last year, according to the People's Bank of China.

ALSO READ: China's new yuan loans shrink, M2 growth unchanged

The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 12 percent year on year to 257.81 trillion yuan at the end of last month.

The growth rate was 0.6 percentage points higher than the figure seen at the end of June, and was 3.7 percentage points higher than that during the same period last year.

The M1, which covers cash in circulation plus demand deposits, stood at 66.18 trillion yuan at the end of July. It was up by 6.7 percent year on year.

ALSO READ: China's new yuan loans drop in April

The M0, the amount of cash in circulation, went up by 13.9 percent from a year ago to 9.65 trillion yuan at the end of last month.  


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