China’s M2, the broadest measure of money supply, rose 14.2 percent year on year in the nine months to September, news website yicai.com reported Monday, citing figures from the National Development and Reform Commission. The growth compares with a 14 percent increase for the six months to June. Banks issued a combined 7.28 trillion yuan (US$1.2 trillion) of new yuan loans in the nine months, up 557 billion yuan from the same period a year earlier. Yuan deposits grew 2.23 trillion yuan to 11.27 trillion yuan. The renminbi-US dollar exchange rate was up 2.2 percent during the period, the report said.
– Contact HKEJ at [email protected]