China’s yuan loans grow 14.75 trln yuan in first 9 months

BEIJING: China’s yuan-denominated loans rose 14.75 trillion yuan (about 2.08 trillion U.S. dollars) in the first nine months of the year, central bank data showed on Wednesday.
Of the total, household loans grew 1.1 trillion yuan, and loans to enterprises and public institutions increased by 13.44 trillion yuan, according to the People’s Bank of China.
Outstanding yuan loans stood at 270.39 trillion yuan at the end of September, up 6.6 percent year on year, according to the central bank.
The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.4 percent year on year to 335.38 trillion yuan at the end of September. –Agencies