China's yuan-denominated loans saw a significant increase of 5.13 trillion yuan ($706.77 billion) in January, according to data released by the People's Bank of China (PBOC) on Friday. This robust growth in lending underscores the ongoing support for the country's real economy.
The M2 money supply, which includes cash in circulation and all deposits, rose by 7 percent year-on-year to reach 318.52 trillion yuan by the end of January. This steady increase indicates a resilient monetary environment conducive to economic expansion.
In addition to the rise in yuan loans, newly added social financing amounted to 7.06 trillion yuan in January. This figure represents an increase of 583.3 billion yuan compared to the same period in the previous year, bringing China's total social financing to 415.2 trillion yuan. The uptick in social financing reflects enhanced liquidity and financial support flowing into various sectors of the economy.
Furthermore, China's foreign exchange reserves remained robust at $3.2 trillion by the end of January. These reserves provide a substantial buffer, ensuring stability in the face of global economic uncertainties.
The combination of increased lending, a growing money supply, and substantial foreign exchange reserves highlights China's strategic efforts to maintain economic momentum and foster growth across multiple fronts. These developments are closely monitored by global investors, business professionals, and policymakers as indicators of China's economic health and potential opportunities within its expansive market.
Reference(s):
cgtn.com
