China’s new yuan loans fall in July

China’s new yuan loans fall in July

China's new yuan-denominated loans reached 1.06 trillion yuan in July, central bank data showed on Monday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 8.1 percent year-on-year to 191.94 trillion yuan at the end of July, according to the People's Bank of China.

The narrow measure of the money supply (M1), which covers cash in circulation plus demand deposits, rose 3.1 percent year-on-year to 55.3 trillion yuan by the end of last month.

M0, the amount of cash in circulation, increased 4.5 percent year-on-year to 7.27 trillion yuan by the end of July, according to the PBOC.

By the end of July, China's total outstanding social financing rose 10.7 percent year-on-year to 214.13 trillion yuan.

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