(Yicai Global) Nov. 14 -- China’s broad money (M2) balance was CNY165.34 trillion (USD24.9 trillion) as of the end of October, up 8.8 percent on the year, according to data released by the People’s Bank of China, the nation’s central bank, on Nov. 13.
Growth was 0.4 percentage point slower than the end of September and 2.8 points down from the same period last year as the figure sank to its lowest value since 1996.
The balance of yuan loans at the end of last month was CNY118.42 trillion, up 13 percent on the year and climbing 0.1 point slower than both the end of September and the same period last year, the data showed. Yuan loans increased CNY663.2 billion in October, CNY11.9 billion more than the same period in 2016.
The household sector saw loans rise CNY450.1 billion, of which short-term lending was worth CNY79.1 billion and mid- to long-term loans were worth CNY371 billion. Money lent by non-financial enterprises and government organizations increased by CNY214.2 billion, within which short-term loans declined CNY11.3 billion and mid- to long-term loans increased by CNY236.6 billion.
Preliminary data shows that at the end of October this year, total social financing was worth CNY172.21 trillion, an annual increase of 13 percent.