China's April new loans drop
BEIJING - China's new yuan-denominated lending dropped to 792.9 billion yuan ($127.85 billion) in April, down from 1.06 trillion yuan in March, the People's Bank of China said Friday.
The amount was an increase of 111.1 billion yuan than the same period last year, the central bank said in a statement.
New loans in foreign currencies increased by $13.6 billion last month, with an outstanding account topping $767.9 billion by the end of April, the figures showed.
The country's social financing, a measure of funds raised by entities in the real economy, amounted to 1.75 trillion yuan in April, an increase of 783.3 billion yuan from last year.
By the end of April, the broad measure of money supply (M2), which covers cash in circulation and all deposits, increased 16.1 percent year on year to 103.26 trillion yuan. The rise was up 0.4 percentage points from the rate recorded in March, the figures showed.
The rise was up 0.4 percentage points from the rate recorded in March and 3.3 percentage points higher year on year.
Meanwhile, the narrow measure of money supply (M1), which covers cash in circulation plus current corporate deposits, climbed 11.9 percent from a year ago to 30.76 trillion yuan. The growth was 0.1 percentage points higher than the rate recorded in March.
The outstanding amount of cash in circulation (M0) reached 5.56 trillion yuan by the end of April, up 10.8 percent from one year earlier.
Last month, the net amount of cash put into circulation stood at 14.7 billion yuan.
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