Chinese Bank Lending Increases In November

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Friday, the People's Bank of China said new yuan-denominated loans increased to 294.8 billion yuan in November from 253 billion yuan in October. During January to November, banks extended 9.21 trillion yuan of local currency loans, up 5.06 trillion yuan from the prior year.

Further, the central bank said M2, the broad measure of money supply climbed 29.74% in November from a year earlier. At the same time, the narrow M1 measure of money supply grew 34.63%.

Friday, the People's Bank of China said new yuan-denominated loans increased to 294.8 billion yuan in November from 253 billion yuan in October. (Market News Provided by RTTNews)