China's new yuan loans grow in May

BEIJING - China's new yuan-denominated loans reached 1.18 trillion yuan ($170.5 billion) in May 2019, 31.3 billion yuan more than the same period last year, central bank data showed Wednesday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 8.5 percent year-on-year to 189.12 trillion yuan at the end of May, according to the People's Bank of China.