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Copyright © 2024 CGTN. 京ICP备20000184号
Disinformation report hotline: 010-85061466
A view of the headquarters of the People's Bank of China, the country's central bank, Beijing, July 3, 2024. /CFP
China's yuan-denominated loans rose by 16.02 trillion yuan (about $2.27 trillion) in the first three quarters of the year, central bank data showed on Monday.
The M2, a broad measure of money supply that covers cash in circulation and all deposits, climbed 6.8 percent year on year to 309.48 trillion yuan at the end of September, according to the People's Bank of China.
Newly added social financing, a measure of funds the real economy receives from the financial system, reached 25.66 trillion yuan in the third quarter of the year, down 3.68 trillion yuan compared to the same period in 2023, bringing China's total social financing to 402.19 trillion yuan.
Meanwhile, China's foreign exchange reserves stood at $3.32 trillion at the end of September.