Date
21 October 2017

October new loans hit 506.1 bln yuan, M2 up 14.3%, PBoC says

Chinese banks extended 506.1 billion yuan (US$83.1 billion) in new renminbi loans in October, an increase of 700 million yuan from a year earlier, the People’s Bank of China (PBoC) said Monday. M2, a broad measure of money supply, rose 14.3 percent at end-October from a year ago, exceeding the official full-year target of a 13 percent gain, according to a statement on the central bank’s website. Aggregate financing, which tracks society-wide funding activities, was 14.82 trillion yuan from January to October, up 1.81 trillion yuan from the same period last year, the PBoC said.

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JP/RA

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