chinas new yuan loans in may beat forecasts
Last Updated : GMT 06:49:16
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Last Updated : GMT 06:49:16
Arab Today, arab today

China's New Yuan Loans in May Beat Forecasts

Arab Today, arab today

Arab Today, arab today China's New Yuan Loans in May Beat Forecasts

Bank of China
Beijing - QNA

China's new yuan-denominated lending in May stood at 985.5 billion yuan (about 149 billion US dollars), up 84.7 billion yuan from a year earlier, exceeding analysts' expectations and well above the previous month's levels.

    The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 11.8% year on year to 146.17 trillion yuan by the end of May, the People's Bank of China said in a statement on its website, carried by Xinhua news agency.

    The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 23.7% year on year to 42.43 trillion yuan, the statement said. 

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