China’s yuan-denominated loans rise by 718.8bn yuan in April: Central bank data

The archive photo shows the exterior of the People’s Bank of China (PBOC) in Beijing, capital of China. (Xinhua/Peng Ziyang)

BEIJING, May 12 (Xinhua) — China’s yuan-denominated loans rose by 718.8 billion yuan (about 104.02 billion U.S. dollars) in April, according to central bank data Thursday.

M2, a broad measure of money supply that includes cash in circulation and all deposits, rose 12.4 percent year on year to 280.85 trillion yuan at the end of April, according to the People’s Bank of China.

The growth rate was 0.3 percentage points lower than at the end of March but 1.9 percentage points higher than at the end of April last year.

(according to Xinhua News Agency)