China's new yuan loans shrink in February

BEIJING — Chinese banks extended 1.17 trillion yuan (about $169.2 billion) of new yuan loans in February, down from 2.03 trillion yuan a month ago, central bank data showed Thursday.

The M2, a broad measure of the money supply that covers cash in circulation and all deposits, grew 11.1 percent from a year earlier to about 158.29 trillion yuan, according to an online People's Bank of China statement.

The M1, a narrow measure of the money supply which covers cash in circulation plus demand deposits, rose 21.4 percent year-on-year to 47.65 trillion yuan.