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New yuan-denominated loans rose more than expected in August， giving further support to the recovery of the Chinese economy， according to data released by the People’s Bank of China， China’s central bank， on September 10.
New yuan loans stood at 711.3 billion yuan（$115.24 billion） in August， 7.4 billion yuan （$1.21 billion） more than a year ago. The figure was up from 699.9 billion yuan （$114.36 billion） in July， but down from the 860.5 billion yuan （$140.6 billion） issued in June.
The August figure， which put total new yuan loans at 6.95 trillion yuan （$1.14 trillion） for the past eight months， has exceeded market expectations.
Central bank data also showed that M2， a broad measure of money supply that covers cash in circulation and all deposits， increased 14.7 percent year on year to reach 106.12 trillion yuan （$17.34 trillion） at the end of August.
Consumer Confidence
Chinese consumer spending using bankcards dropped slightly in August， illustrating stable consumer confidence， according to the Bankcard Consumer Confidence Index （BCCI） released on September 9.
The BCCI， compiled by the Xinhua News Agency and China UnionPay， a national bank card association， dropped 0.03 points to 86.73 in August from July.
The index was up 0.52 points on a year-onyear basis， according to the BCCI report.
The value of transactions recorded at supermarkets took a higher share of consumption in August， about 0.2 percentage points up from July.
Consumers reduced spending in areas including air travel， tourism agencies and tourist sites as summer holidays ended in August， said the report.
With the rising price of gold and jewelry， the value of related transactions recorded dropped 0.02 percentage points in August from July.
New yuan loans stood at 711.3 billion yuan（$115.24 billion） in August， 7.4 billion yuan （$1.21 billion） more than a year ago. The figure was up from 699.9 billion yuan （$114.36 billion） in July， but down from the 860.5 billion yuan （$140.6 billion） issued in June.
The August figure， which put total new yuan loans at 6.95 trillion yuan （$1.14 trillion） for the past eight months， has exceeded market expectations.
Central bank data also showed that M2， a broad measure of money supply that covers cash in circulation and all deposits， increased 14.7 percent year on year to reach 106.12 trillion yuan （$17.34 trillion） at the end of August.
Consumer Confidence
Chinese consumer spending using bankcards dropped slightly in August， illustrating stable consumer confidence， according to the Bankcard Consumer Confidence Index （BCCI） released on September 9.
The BCCI， compiled by the Xinhua News Agency and China UnionPay， a national bank card association， dropped 0.03 points to 86.73 in August from July.
The index was up 0.52 points on a year-onyear basis， according to the BCCI report.
The value of transactions recorded at supermarkets took a higher share of consumption in August， about 0.2 percentage points up from July.
Consumers reduced spending in areas including air travel， tourism agencies and tourist sites as summer holidays ended in August， said the report.
With the rising price of gold and jewelry， the value of related transactions recorded dropped 0.02 percentage points in August from July.