China s September new loans rise to 595.5 bln yuan

Write: Sean [2011-05-20]

China s September new loans rise to 595.5 bln yuan

China s new yuan-denominated lending in September rose to 595.5 billion yuan (89.28 billion U.S. dollars), an increase of 9.2% from August, China s central bank said.

China s banks extended 6.3 trillion yuan from January to September, 2.36 trillion yuan, or 27.3%, less than the same period in 2009, the People s Bank of China (PBOC) said.

Yuan loans outstanding at the end of September totaled 46.28 trillion yuan, 18.5% higher than a year earlier, said PBOC.

Annual growth in the broad M2 measure of money supply, including cash in circulation and all deposits, was 19% in September, compared with 19.2% last month.

The country s narrow M1 measure of money supply, which covers cash in circulation plus current corporate deposits, increased by 20.9% in September year on year, one percentage point and 11.5 percentage points lower than that of this August and the end of last year.