China's new loans soar in January
Xinhua | Updated: 2013-02-08 16:55
BEIJING - China's new yuan-denominated lending soared to 1.07 trillion yuan ($170.4 billion) in January, up 334 billion yuan year on year, the People's Bank of China announced Friday.
New loans denominated in foreign currencies stood at 179.3 billion yuan, representing a year-on-year increase of 194.1 billion yuan, the PBOC said in an online statement.
It said that the country's social financing, a measure of funds raised by entities in the real economy, amounted to 2.54 trillion yuan in January, up 1.56 trillion yuan from the same period of last year.
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