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China's New Loans Tops $113b in April

China Auto Sales up 34 % in April, Growth Slows  

BEIJING, May 11 -- China's April new yuan loans rose to 774 billion yuan ($113.37 billion) from March's 510.7 billion yuan, the People's Bank of China announced today.
Yuan loans outstanding at the end of April were 43.35 trillion yuan, up 21.96 percent higher than a year earlier. The growth rate is 0.15 percentage point higer than that in March.
The country's M2, or the broad measure for money supply that includes cash and all types of deposits, grew 21.48 percent year-on-year in April, down from 22.5 percent year-on-year growth in March, the central bank said.
The country's M1, or the narrow measure of money supply, which covers cash in circulation plus current corporate deposits, accelerated 31.25 percent year-on-year in April. The gowth rate was 1.31 percentage points higher than that in March.
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China's New Loans Tops $113b in April_SMM | Shanghai Nonferrous Metals

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