China's new loans hit 562b yuan in Nov

Updated: 2011-12-14 16:30


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BEIJING - China's new yuan-denominated lending in November rose 7.8 billion yuan ($1.2 billion) year-on-year to 562.2 billion yuan, the People's Bank of China (PBOC) , the central bank, announced Wednesday.

New loans in the month were smaller compared to that in October, which stood at 586.8 billion yuan.

By the end of November, the outstanding broad money supply (M2), which covers cash in circulation and all deposits, rose 12.7 percent year-on-year to 82.55 trillion yuan, according to data released by the PBOC.

Meanwhile, the narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, increased 7.8 percent year-on-year to 28.14 trillion yuan by the end of last month, the figures showed.

New yuan deposits last month fell sharply to 324.7 billion yuan, down 262.6 billion yuan year-on-year. Outstanding yuan-denominated deposits totaled 79.51 trillion yuan as of the end of last month, up 13.1 percent year-on-year, however, the growth rate was 6.5 percentage points lower compared to the same period last year.

Meanwhile, outstanding foreign currencies-denominated deposits stood at $266.8 billion, up 12.9 percent year-on-year. New deposits of foreign currencies rose $4.1 billion year-on-year.