China's Q1 new yuan loans hit record high of 10.6 trln yuan
China's new yuan-denominated loans hit a record high of 10.6 trillion yuan during the first quarter of the year, up 2.27 trillion yuan from a year ago, central bank data showed Tuesday.
In March, new yuan-denominated loans totaled 3.89 trillion yuan. The figure showed an increase of 749.7 billion yuan from the same period last year, according to the People's Bank of China.
The M2 increased 12.7 percent year on year to 281.46 trillion yuan at the end of last month. The growth rate was 0.2 percentage points lower than the figure seen at the end of February and was 3 percentage points higher than that for the same period last year.
Newly added social financing came in at 14.53 trillion yuan during the first quarter, marking an increase of 2.47 trillion yuan from the same period last year.
In the first quarter, total yuan deposits increased by 15.39 trillion yuan, up 4.54 trillion yuan from a year ago.
structural monetary policy tools