China's new yuan loans leap Jan.-Sept.

Date : 2013-10-15  | From : Xinhua

China's new yuan-denominated lending in the first three quarters this year reached 7.28 trillion yuan (1.18 trillion U.S. dollars), an increase of 557 billion yuan from a year earlier, according to a statement issued by the central bank on Monday.

The new lending increase was the second highest in the country's history, only after that for the same period of 2009, when lending stood at 8.67 trillion yuan.

According to the People's Bank of China, new yuan loans in September stood at 787 billion yuan, 164.4 billion yuan more than a year ago.

M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 14.2 percent year on year to 107.74 trillion yuan at the end of September.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, expanded 8.9 percent last month. The growth rate was 1 percentage point lower than the previous month.

China's yuan-denominated deposits totaled 103.09 trillion yuan by the end of September, an increase of 14.6 percent from a year earlier.

In the first three quarters this year, new yuan deposits amounted to 11.27 trillion yuan. In September, new yuan deposits rose by 1.63 trillion yuan, decreasing 26.7 billion yuan from a year earlier.

China's foreign reserve increased by 160 billion U.S. dollars in the first three-quarters this year to reach 3.66 trillion U.S. dollars at the end of September, according to the statement.