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China's new yuan loans rise in June
Last Updated: 2021-07-10 06:07 | Xinhua
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China's new yuan-denominated loans totaled 2.12 trillion yuan (about 327.39 billion U.S. dollars) last month, up 308.6 billion yuan from the same period last year, central bank data showed Friday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.6 percent year on year to 231.78 trillion yuan at the end of June, according to the People's Bank of China (PBOC).

The rate was 0.3 percentage points higher than the figure seen at the end of May, but was 2.5 percentage points lower than that during the same period last year.

Newly added total social financing, a measurement of funds the real economy receives from the financial system, reached 3.67 trillion yuan in June. The figure was 200.8 billion yuan more than that for the same period last year.

The M1, a narrow measure of the money supply covering cash in circulation plus demand deposits, stood at 63.75 trillion yuan at the end of June. It was up by 5.5 percent year on year.

The M0, the amount of cash in circulation, went up by 6.2 percent from a year ago to 8.43 trillion yuan at the end of last month.

At the end of June, the outstanding yuan deposits increased 9.2 percent year on year to 226.62 trillion yuan.

The PBOC said Friday that the country will cut the reserve requirement ratio by 50 basis points for eligible financial institutions from July 15 to support the real economy.

China's prudent monetary policy has not changed, the PBOC said in a statement.

The reduction is a regular operation after the country's monetary policy normalized, said the PBOC, noting that the central bank will stick to a normal monetary policy while keeping it stable and effective.

(Editor:Fu Bo)

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China's new yuan loans rise in June
Source:Xinhua | 2021-07-10 06:07
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