China's new yuan-denominated lending in November rose RMB 7.8 billion (USD 1.2 billion ) year-on-year to RMB 562.2 billion, the People's Bank of China, the central bank (PBOC), announced Wednesday.

New loans in the month were smaller compared to that in October, which stood at RMB 586.8 billion .

By the end of November, the outstanding broad money supply (M2), which covers cash in circulation and all deposits, rose 12.7 percent year-on-year to EMB 82.55 trillion, according to data released by the PBOC.

Meanwhile, the narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, increased 7.8 percent year-on-year to RMB 28.14 trillion  by the end of last month, the figures showed.

New yuan deposits last month fell sharply to RMB 324.7 billion , down RMB 262.6 billion year-on-year. Outstanding yuan-denominated deposits totaled RMB 79.51 trillion as of the end of last month, up 13.1 percent year-on-year, however, the growth rate was 6.5 percentage points lower compared to the same period last year.

Meanwhile, outstanding foreign currencies-denominated deposits stood at USD 266.8 billion , up 12.9 percent year-on-year. New deposits of foreign currencies rose USD 4.1 billion year-on-year.

Source:chinesestock