China's yuan loans grow by 17.1 trillion yuan in first 11 months

China's yuan-denominated loans rose by 17.1 trillion yuan (US$2.38 trillion) in the first 11 months of the year, central bank data showed on Friday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 7.1 percent year on year to 311.96 trillion yuan at the end of November.

The M1, which covers cash in circulation plus demand deposits, stood at 65.09 trillion yuan at the end of November, down 3.7 percent year on year.

The M0, which indicates the amount of cash in circulation, rose by 12.7 percent from the previous year to a total of 12.42 trillion yuan at the end of last month, per the data.

Outstanding yuan loans were at 254.68 trillion yuan at the end of November, an increase of 7.7 percent year on year.

The data also showed that outstanding social financing stood at 405.6 trillion yuan at the end of last month, up 7.8 percent year on year.