China's yuan loans grow by 15.73 trln yuan in H1
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E-mail Xinhua, July 12, 2023
File photo shows a bank staff member counts 100-yuan banknotes at the Beijing Branch of the Bank of Communication in Beijing, capital of China. (Xinhua/Li Xin)
BEIJING, July 11 (Xinhua) -- China's yuan-denominated loans rose by 15.73 trillion yuan (2.19 trillion U.S. dollars) in the first half of the year, central bank data showed Tuesday.
In June alone, the yuan-denominated loans rose by 3.05 trillion yuan, according to the People's Bank of China.
The M2, a broad measure of money supply that covers cash in circulation and all deposits, climbed 11.3 percent year on year to 287.3 trillion yuan at the end of June.
The growth rate was 0.3 percentage points lower than at the end of May, and 0.1 percentage points lower than at the end of June last year.
The M1, which covers cash in circulation plus demand deposits, stood at 69.56 trillion yuan at the end of June, up by 3.1 percent year on year.
The M0, the amount of cash in circulation, went up 9.8 percent from a year ago to 10.54 trillion yuan at the end of last month.
In the first six months of 2023, the central bank injected 78.9 billion yuan of net cash into the market.
Newly added social financing, a measurement of funds individuals and non-financial firms receive from the financial system, came in at 4.22 trillion yuan last month.
Total new social financing in the first half of the year amounted to 21.55 trillion yuan, representing an increase of 475.4 billion yuan from the same period last year.
A data breakdown exhibited stepped-up support for the real economy from the financial sector, as loans to the real economy accounted for 72.4 percent of the total social financing in the first six months of this year, rising 7.8 percentage points compared with a year earlier.
Tuesday's data also showed China's new yuan deposits hit 20.1 trillion yuan in the January-June period, up by 1.3 trillion yuan from the same period last year. ■
