China's yuan loans grow by 1.36t yuan in May

BEIJING - China's yuan-denominated loans rose by 1.36 trillion yuan ($190.22 billion) in May, central bank data showed on Tuesday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, climbed 11.6 percent year-on-year to 282.05 trillion yuan at the end of May, according to the People's Bank of China.

The growth rate was 0.8 percentage points lower than it was at the end of April, but 0.5 percentage points higher than at the end of May last year.

The M1, which covers cash in circulation plus demand deposits, stood at 67.53 trillion yuan at the end of May, up 4.7 percent year-on-year. The growth rate was 0.6 percentage points lower than it was at the end of April, but 0.1 percentage points higher than at the end of May last year.

Newly added social financing, a measurement of funds that individuals and non-financial firms receive from the financial system, came in at 1.56 trillion yuan in May, an increase of 331.2 billion yuan from April.

At the end of May, the outstanding yuan loans rose 11.4 percent year-on-year to 227.53 trillion yuan.