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Chinese new yuan loans decline in July

Chinese banks made net new yuan loans of 825.5 billion yuan in July compared with 1.54 trillion yuan in June, beating analysts' expectations of 800 billion yuan for the month, Reuters reported, citing central bank data.

The country's broad M2 money supply grew 9.2% from a year earlier, down from annual growth of 9.4% in June and 9.6% in May.

Outstanding yuan loans grew 13.2% year over year in July, Reuters said.

As of Aug. 14, US$1 was equivalent to 6.68 Chinese yuan.