November sees steady expansion of China's financing
By Zhou Lanxu | chinadaily.com.cn | Updated: 2023-12-13 19:37
China's financing activity expanded steadily in November as official data showed the increment in aggregate social financing — the total amount of financing to the real economy — reached 2.45 trillion yuan ($341.1 billion) in November, up by 455.6 billion yuan from a year earlier.
The amount was also up from 1.85 trillion yuan in October, the People's Bank of China, the country's central bank, said on Wednesday, with government bonds raising a net 1.15 trillion yuan in November, up 499.2 billion yuan year-on-year.
China's outstanding aggregate social financing stood at 376.39 trillion yuan as of the end of November, the central bank said, marking a year-on-year growth of 9.4 percent, generally stable compared with 9.3 percent a month earlier.
The increment in yuan-denominated loans came in at 1.09 trillion yuan in November, down by 136.8 billion yuan from a year ago but up from 738. 4 billion yuan in October.
The broad money supply, or M2, stood at 291.2 trillion yuan as of the end of last month, up 10 percent year-on-year. The growth rate was 0.3 percentage points down from a month earlier and 2.4 percentage points lower than a year ago.
