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Fresh data from the central bank
showed that China's new yuan-denominated loans hit 992.7 billion yuan
(about 142.4 billion U.S. dollars) in July, down 63.1 billion yuan
compared with the same month of last year.
Analysts polled by Reuters had
predicted new yuan loans would fall to 1.20 trillion yuan in July, down
from 1.81 trillion yuan in the previous month and compared with 1.06
trillion yuan a year earlier.
The country's 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, the central bank said.
The growth rate was 0.4
percentage points lower than that at the end of June, and up 2.6
percentage points compared with that in the same period last year, said
the People's Bank of China (PBOC), the central bank.
Yi Gang, governor of the PBOC
told Xinhua on Sunday that the central bank will guide growth in M2 and
total social financing this year to significantly exceed last year's
rate.
Meanwhile, 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.
Source: CGTN |
