Beijing: China’s yuan-denominated loans rose 14.75 trillion yuan (about $2.08 trillion) in the first nine months of the year, central bank data showed on Wednesday.
According to Qatar News Agency, of the total, household loans grew 1.1 trillion yuan, and loans to enterprises and public institutions increased by 13.44 trillion yuan, as reported by the People’s Bank of China. Outstanding yuan loans stood at 270.39 trillion yuan at the end of September, marking a 6.6 percent increase year-on-year.
The M2, a broad measure of money supply that encompasses cash in circulation and all deposits, rose 8.4 percent year-on-year to 335.38 trillion yuan at the end of September. The M1, which covers cash in circulation, demand deposits, and client reserves of non-bank payment institutions, reached 113.15 trillion yuan at the end of last month, up 7.2 percent year-on-year.
The M0, indicating the amount of cash in circulation, increased 11.5 percent year-on-year to 13.58 trillion yuan at the end of September. Preliminary statistics showed that the aggregate financing to the real economy was 30.09 trillion yuan in the first nine months, which was 4.42 trillion yuan more than the same period last year.
The outstanding aggregate financing to the real economy reached 437.08 trillion yuan at the end of September, registering an 8.7 percent year-on-year growth.