BEIJING, May 13 (Xinhua) — China’s yuan-denominated loans rose by 10.19 trillion yuan (1.41 trillion U.S. dollars) in the first four months of this year, central bank data showed Saturday.
The M2, a broad measure of money supply that covers cash in circulation and all deposits, climbed 7.2 percent year on year to 301.19 trillion yuan at the end of last month.
The M1, which covers cash in circulation plus demand deposits, stood at 66.01 trillion yuan at the end of April, down 1.4 percent year on year, according to the People’s Bank of China.
The social financing scale has accumulated to 12.73 trillion yuan in the first four months of 2024, a decrease of 3.04 trillion yuan compared to the same period last year.
Within this total, the increase in the amount of yuan-denominated loans extended to the real economy reached 9.44 trillion yuan.
Outstanding yuan loans reached 291.59 trillion yuan at the end of April, marking an increase of 6.6 percent year on year, the data showed.