China’s bank lending reaches $97 bn in June
July 12th, 2011 - 11:07 am ICT by IANSBeijing, July 12 (IANS) China’s bank lending rebounded to 633.9 billion yuan ($97.52 billion) in June from May’s 551.6 billion yuan, Xinhua reported Tuesday.
The June figure was 20.7 billion yuan more than that of last June, the People’s Bank of China said.
By the end of June, the money supply, which covers cash in circulation and all deposits, rose 15.9 percent year-on-year to 78.08 trillion yuan. The pace of increase accelerated from May’s 15.1-percent growth but was 3.8 percentage points lower than that of last June.
The central bank raised benchmark interest rates for the third time this year ahead of a report that showed the country’s inflation hit a three-year high in June.
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Tags: bank lending, bank of china, beijing, bn, circulation, inflation, interest rates, money supply, pace, percentage points, third time, trillion, xinhua, yuan