Chinese banks extended 679 billion yuan ($101 billion) in new yuan loans in July, versus 2.81 trillion yuan in June, data released by the People's Bank of China (PBOC) on Friday showed.

The new yuan-denominated loans were 404.2 billion yuan fewer compared to July 2021.

Household loans, including mortgages, fell to 121.7 billion yuan in July from 848.2 billion yuan in June, while corporate loans slid to 287.7 billion yuan from 2.21 trillion yuan.

The broad money supply, or M2, grew 12 percent in July from a year earlier, the PBOC data showed, while the outstanding yuan loans grew 11 percent compared with the 11.2 percent growth in June.

The PBOC reiterated in its policy report in July that it would step up implementation of its prudent monetary policy and keep liquidity reasonably ample, while closely monitoring domestic and external inflation changes.

The central bank said earlier this month that it will step up credit support to enterprises in the second half of the year, as part of efforts to consolidate the growth momentum of China's economy.

(With input from agencies)