BEIJING, Sept. 14 (Xinhua) -- China's yuan-denominated loans rose by 10.44 trillion yuan (about 1.54 trillion U.S. dollars) in the first eight months of 2026, central bank data showed on Monday.
At the end of August, outstanding yuan loans stood at 282.35 trillion yuan, up 4.9 percent year on year, according to the People's Bank of China.
M2, a broad measure of money supply that covers cash in circulation and all deposits, had increased by 7.5 percent year on year to 356.81 trillion yuan by the end of last month.
M1, which covers currency in circulation, corporate demand deposits, personal demand deposits and provisions received by non-bank payment institutions, reached 115.77 trillion yuan at the end of August, a rise of 4.1 percent from a year earlier.
China's outstanding aggregate financing to the real economy stood at 464.8 trillion yuan at the end of August, up 7.2 percent year on year, the central bank noted.
"At present, China's aggregate financial volume is growing at a reasonable pace, and social financing conditions have remained relatively loose," said Tian Xuan, dean of Peking University's Guanghua School of Management.
The central bank said in its latest monetary policy report that it will continue to implement a moderately loose monetary policy in the second half of 2026, strengthen counter-cyclical adjustment, and take solid steps to promote sustained and improved economic development.
It will also maintain ample liquidity, guide financial institutions to enhance the balance of credit supply, and align the growth of social financing and money supply with expected targets for economic growth and overall price levels.
Wang Qing, chief macro analyst at Golden Credit Rating, said that looking ahead, the country's monetary policy will strengthen coordination with fiscal and industrial policies and step up counter-cyclical adjustment.
Structural monetary policy tools are expected to see further price cuts, increased quotas and expanded coverage, to boost financing support for tech companies and private enterprises, facilitate the shift to new growth drivers, and stabilize overall employment, Wang said. ■
