slotdepositpaypal|China's yuan loans grow by 11.14 trillion yuan in first 5 months

BEIJING, June 14 (Xinhua) -- China's yuan-denominated loans rose by 11slotdepositpaypal.14 trillion yuan (about 1.57 trillion U.S. dollars) in the first five months of this year, central bank data showed Friday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, climbed 7 percent year on year to 301.85 trillion yuan at the end of last month.

The M1, which covers cash in circulation plus demand deposits, stood at 64.68 trillion yuan at the end of May, down 4.2 percent year on year, according to the People's Bank of China.

The social financing scale reached 14.8 trillion yuan in the first five months of 2024, a decrease of 2.52 trillion yuan compared to the same period last year.

Outstanding yuan loans totaled 248.73 trillion yuan at the end of May, marking an increase of 9.3 percent year on year, the data revealed.■

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