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June 11, 2021

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China’s new yuan loans rise in May

China’s new yuan-denominated loans totaled 1.5 trillion yuan (US$234.5 billion) in May, up 14.3 billion yuan from the same period last year, central bank data showed yesterday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.3 percent year on year to 227.55 trillion yuan at the end of May, according to statistics from the People’s Bank of China.

The rate was 0.2 percentage points higher than the figure seen at the end of April, but was 2.8 percentage points lower than that during the same period last year.

Newly added total social financing, a measurement of funds the real economy receives from the financial system, reached 1.92 trillion yuan in May.

In breakdown, yuan-denominated loans to the real economy increased by 1.43 trillion yuan in May, up from 1.28 trillion yuan a month earlier.

Yesterday’s data also showed that by the end of May, the outstanding yuan deposits increased 8.9 percent year on year to 222.76 trillion yuan.


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