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    China's new yuan loans drop in April

    Xinhua | Updated: 2021-05-12 17:01
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    A bank staff counts Chinese currency renminbi at a bank in Linyi, East China's Shandong province. [Photo/Xinhua]

    BEIJING -- China's new yuan-denominated loans totaled 1.47 trillion yuan ($228.77 billion) in April, down 229.3 billion yuan year-on-year, central bank data showed Wednesday.

    The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.1 percent year-on-year to 226.21 trillion yuan at the end of April, according to the People's Bank of China.

    The newly added social financing, a measurement of funds the real economy receives from the financial system, came in at 1.85 trillion yuan in April, down 1.25 trillion yuan year-on-year. 

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