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China’s new yuan loans up in November

Updated: Dec 12,2014 6:38 PM     Xinhua

BEIJING — China’s financial institutions issued 852.7 billion yuan ($138.88 billion) worth of new yuan-denominated loans in November, well above market expectations, data showed on Dec 12.

M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 12.3 percent year on year to 120.86 trillion yuan at the end of November, lower than the 12.6-percent growth seen in October, said the People’s Bank of China, the central bank.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 3.2 percent year on year to 33.51 trillion yuan at the end of last month, with the growth rate unchanged from October.

Total social financing in November stood at 1.15 trillion yuan, compared with October’s 662.7 billion yuan, according to data released by the central bank.