China Reports 470 Bln Yuan New Loans in Sept. -Shanghai Metals Market

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China Reports 470 Bln Yuan New Loans in Sept.

Industry News 08:56:02AM Oct 17, 2011 Source:SMM

BEIJING, Oct. 14 (Xinhua) -- China's new yuan-denominated loans in September stood at 470 billion yuan (73.7 billion U.S. dollars), a drop of 131.1 billion yuan from the same month of last year, the People's Bank of China (PBOC) said Friday.

The figure brought the total new loans in the first nine months of this year to 5.68 trillion yuan, 597.7 billion yuan less than the same period last year, the PBOC, the country's central bank, said in a statement on its website.

By the end of September, the outstanding broad money supply (M2), which covers cash in circulation and all deposits, rose 13 percent year-on-year to 78.74 trillion yuan, the statement said.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, increased 8.9 percent year-on-year to 26.72 trillion yuan by the end of last month, the statement said.

It also said China's foreign exchange reserves totaled 3.2017 trillion U.S. dollars by the end of September, compared with 3.1975 trillion U.S. dollars by the end of June.
 

Key Words:  new loan 

China Reports 470 Bln Yuan New Loans in Sept.

Industry News 08:56:02AM Oct 17, 2011 Source:SMM

BEIJING, Oct. 14 (Xinhua) -- China's new yuan-denominated loans in September stood at 470 billion yuan (73.7 billion U.S. dollars), a drop of 131.1 billion yuan from the same month of last year, the People's Bank of China (PBOC) said Friday.

The figure brought the total new loans in the first nine months of this year to 5.68 trillion yuan, 597.7 billion yuan less than the same period last year, the PBOC, the country's central bank, said in a statement on its website.

By the end of September, the outstanding broad money supply (M2), which covers cash in circulation and all deposits, rose 13 percent year-on-year to 78.74 trillion yuan, the statement said.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, increased 8.9 percent year-on-year to 26.72 trillion yuan by the end of last month, the statement said.

It also said China's foreign exchange reserves totaled 3.2017 trillion U.S. dollars by the end of September, compared with 3.1975 trillion U.S. dollars by the end of June.
 

Key Words:  new loan