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China's new loans rise to 410.4b yuan in August

(Xinhua)
Updated: 2009-09-11 13:52

Related readings:  BOC: China's bank loans to see steady growth in second half  Bad loans 'no threat': survey  Bank loans may hit 3t yuan in H2  Slowdown in August bank loans

China's new lending in yuan rose to 410.4 billion yuan ($60.02 billion) in August from July's 355.9 billion yuan, but still a sharp decrease from 1.53 trillion yuan in June, the central bank said Friday.

The August figure brought new yuan-denominated loans in the first eight months to 8.15 trillion yuan, 5.04 trillion yuan more than the same period of last year.

The broad measure of money supply, M2, which covers cash in circulation and all deposits, rose 28.53 percent from a year earlier to 57.67 trillion yuan at the end of August.

The narrow measure of money supply, M1 (cash in circulation plus current corporate deposits), was up 27.72 percent to 20.04 trillion yuan.