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China's new yuan loans, money supply rise in September

China's new yuan-denominated loans reached 1.38 trillion yuan in September, representing a 111.9-billion-yuan increase from the same month a year ago, according to data from the People's Bank of China.

During the first nine months of 2018, new yuan loans amounted to 13.14 trillion yuan, 1.98 trillion yuan higher than the same period last year.

Meanwhile, the broad M2 money supply, which covers cash in circulation and all deposits, grew 8.3% year over year to 180.17 trillion yuan at the end of September.

As of Oct. 16, US$1 was equivalent to 6.91 Chinese yuan.