China's new yuan loans hit new high in January

BEIJING, Feb. 12 (Xinhua) -- China's new yuan-denominated loans in January hit 2.9 trillion yuan (about 458.2 billion U.S. dollars), 867 billion yuan more than the same period a year earlier and a record high, central bank data showed Monday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, reached 172.1 trillion yuan at the end of January, up 8.6 percent year on year, compared with an 8.1-percent increase a month earlier, the People's Bank of China said in a statement.