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China's yuan-denominated loans rose by 19.75 trillion yuan ($2.75 trillion) in the first nine months of this year, up 1.58 trillion yuan over the same period of last year, central bank data showed on Friday.
In September alone, yuan-denominated loans rose by 2.31 trillion yuan, according to the People's Bank of China (PBOC), the country's central bank.
The M2, a broad measure of money supply that covers cash in circulation and all deposits, climbed 10.3 percent year on year to 289.67 trillion yuan at the end of September, data showed.
The M1, which covers cash in circulation plus demand deposits, stood at 67.84 trillion yuan at the end of September, up 2.1 percent year on year. The M0, or the amount of cash in circulation, went up 10.7 percent from a year ago to 10.93 trillion yuan at the end of last month.
Newly added social financing, a measurement of funds that individuals and non-financial firms receive from the financial system, came in at 29.33 trillion yuan in the first nine months of this year, 1.41 trillion yuan more than a year earlier.
Ruan Jianhong, director-general of PBOC's Statistics and Analysis Department, said that the data points to reasonable and ample liquidity, optimizing credit structure, and declining financing cost for the real economy. This creates a suitable monetary and financial environment for economic rebound, Ruan added.
(With input from Xinhua)
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466