<img src='https://news.cgtn.com/news/2024-08-13/China-s-yuan-loans-grow-by-13-53-trillion-yuan-in-Jan-July-1w2kc4y08uY/img/c8a4b676a26d49f38de0c09959a1984a/c8a4b676a26d49f38de0c09959a1984a.jpeg' alt='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 13.53 trillion yuan ($1.89 trillion) in the first seven months of the year, central bank data showed Tuesday.
The country’s broad money supply (M2), covering cash in circulation and all deposits, grew by 6.3 percent year on year to 303.31 trillion yuan by the end of July.
Newly added total social financing, a measure of funds the real economy receives from the financial system, reached 18.87 trillion yuan in the first seven months of the year, down 3.22 trillion yuan compared to the same period in 2023.
