China’s new yuan loans rise in March

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Beijing, April 15 (IANS) China’s new yuan-denominated lending in March rose to 1.37 trillion yuan ($210 billion), 188.3 billion yuan more from a year earlier, official data showed on Friday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 13.4 percent year on year to 144.62 trillion yuan at the end of March, the People’s Bank of China said in a statement.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 22.1 percent year on year to 41.16 trillion yuan, Xinhua news agency reported citing the statement as saying.

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