China's new yuan loans hit 3-year high

Updated: 2013-02-09 08:59

(Xinhua)

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It added that the country's social financing, a measure of funds raised by entities in the real economy, amounted to 2.54 trillion yuan in January, up 1.56 trillion yuan from the same period last year.

A significant part of the surge was driven by faster growth in means of financing other than bank loans, according to PBOC data.

Social financing in China includes bank loans, trust loans, corporate bonds, entrusted loans, banker's acceptance bills and other means.

Trust loans accounted for 8.2 percent of social financing in 2012, up 6.6 percentage points year on year. Corporate bonds accounted for 14.3 percent, up 3.7 percentage points.

By the end of January, the broad measure of money supply (M2), which covers cash in circulation and all deposits, increased 15.9 percent year on year to 99.21 trillion yuan, the statement said.

The increase was 2.1 percentage points higher than the annual growth rate in 2012 and 3.5 percentage points higher than that of the corresponding period last year.

Meanwhile, the narrow measure of money supply (M1), which covers cash in circulation plus current corporate deposits, jumped 15.3 percent year on year to 31.13 trillion yuan.

The outstanding amount of cash in circulation (M0) amounted to 6.25 trillion yuan in January, up 4.4 percent from one year earlier.

Last month, the net amount of cash put into circulation stood at 779 billion yuan.

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