China's yuan loans grow by US$1.33 trillion in Q1

China's yuan-denominated loans rose by 9.46 trillion yuan (US$1.33 trillion) in the first quarter of this year, central bank data showed Friday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, climbed 8.3 percent year on year to 304.8 trillion yuan at the end of last month, according to data from the People's Bank of China.

The M1, which covers cash in circulation plus demand deposits, stood at 68.58 trillion yuan at the end of March, up 1.1 percent year on year.

Outstanding social financing stood at 390.32 trillion yuan at the end of March, up 8.7 percent year on year.

Outstanding yuan loans reached 247.05 trillion yuan at the end of March, marking an increase of 9.6 percent year on year, the data showed.