China's new loans rise to 294.8 bln yuan in November

11:04, December 11, 2009      

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China's new yuan-denominated lending in November rebounded slightly to 294.8 billion yuan (43.2 billion U.S. dollars) from October's 253 billion yuan, the People's Bank of China, the central bank, said Friday.

The November figure brought new yuan-denominated loans in the first 11 months to 9.21 trillion yuan, 5.06 trillion yuan more than the corresponding period last year.

The broad measure of money supply, M2, which covers cash in circulation and all deposits, rose 29.74 percent from a year earlier to 59.46 trillion yuan at the end of November.

The narrow measure of money supply, M1 (cash in circulation plus current corporate deposits), was up 34.63 percent to 21.25 trillion yuan.

Renminbi deposits were up by 582.4 billion yuan in November, bringing the rise for the first 11 months to 12.63 trillion yuan, 5.32 trillion yuan more than the corresponding period last year.

Personal loans in November rose by 237.7 billion yuan, with 201.2 billion yuan being long-term and medium-term loans.

Source: Xinhua
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