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China M2 up 12.1Pc, Outstanding Yuan Loans 13.9 Pc in March

04-15 10:50 Caijing
Chinese banks extended 1.05 trillion yuan ($168.8 billion) worth of new yuan loans in March, well above the previous month's 644.5 billion yuan.

China's M2, a broader measure of money supply grew 12.1 percent in March, 1.2 percentage down from the previous month, data from the country's central bank showed.

M2 was at CNY116.07 trillion ($18.64trillion) at the end of March, said the People's Bank of China (PBoC) on Tuesday.

Chinese banks extended 1.05 trillion yuan ($168.8 billion) worth of new yuan loans in March, well above the previous month's 644.5 billion yuan.

Outstanding yuan loans rose 13.9 percent from a year earlier to CNY74.91trillion by the end of March.

The central bank also said China's total social financing aggregate, a broad measure of liquidity in the economy, was 2.07 trillion yuan in March versus 938.7 billion yuan the month before.

China's foreign exchange reserves, the world's largest, rose to $3.95 trillion at the end of the first quarter from $3.82 trillion at the end of the previous quarter.

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