Arab Today, arab today china\s 2013 lending hits 889tr yuan
Last Updated : GMT 15:18:37
Arab Today, arab today
Arab Today, arab today

China\'s 2013 lending hits 8.89tr yuan

Arab Today, arab today

Arab Today, arab today China\'s 2013 lending hits 8.89tr yuan

Beijing - XINHUA

China's new yuan-denominated lending was just under 8.9 trillion yuan (1.5 trillion U.S. dollars) in 2013, up 688 billion yuan year on year, the central bank announced on Wednesday. New loans denominated in foreign currencies hit 584.8 billion in 2013, representing a year-on-year decrease of 331.5 billion yuan, according to Sheng Songcheng, financial survey and statistics chief at the People's Bank of China. Total social financing, a measure of funds raised by entities in the real economy, stood at 17.3 trillion yuan last year, up 1.53 trillion yuan from a year earlier and a record high. The new yuan lending took about 51.4 percent of the social financing, the lowest amount in history and 0.6 percentage point lower than the previous year.

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