China's New Yuan Loans in May Beat Forecasts
Bank of China
Beijing - QNA
China's new yuan-denominated lending in May stood at 985.5 billion yuan (about 149 billion US dollars), up 84.7 billion yuan from a year earlier, exceeding analysts' expectations and well above the previous month's levels.
The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 11.8% year on year to 146.17 trillion yuan by the end of May, the People's Bank of China said in a statement on its website, carried by Xinhua news agency.
The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 23.7% year on year to 42.43 trillion yuan, the statement said.
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