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Growth financing sees boost this month

By Chen Jia | chinadaily.com.cn | Updated: 2019-10-15 20:50

A clerk counts cash at a bank in Huaibei, Anhui province. [Photo provided to China Daily]

China's financial support of the economy experienced an overall rebound in September, indicated by the boost of yuan-denominated bank loans and bond issuance, according to the central bank.

Yuan-denominated loans increased to 1.69 trillion yuan ($238.98 billion) last month, up from 1.21 trillion yuan in August, faster than the market's expectation according to data released by the People's Bank of China on Tuesday.

Total social financing, a gauge measuring all capital received by the real economy from the financial sector, boosted by 10.8 percent year-on-year to 219.04 trillion yuan by the end of September. The rate was up from 10.7 percent a month earlier, the PBOC reported.

The broad money supply, or M2, increased 8.4 percent from a year earlier by the end of last month, compared with 8.2 percent by August, it said.

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